United Kingdom: Industrial production inches up in March
Industrial production rose 0.1% in March over the prior month according to the Office for National Statistics, matching February’s figure but slightly undershooting analysts’ expectations. The result was driven by growth in the electricity, gas, steam and air conditioning; and water supply, sewerage and waste management sub-sectors, which was largely offset by contractions in the mining and quarrying and manufacturing sub-sectors.
Industrial production increased 2.9% year-on-year in March, up from February’s revised 2.1% rise (previously reported: +2.2% year-on-year). Annual average growth in industrial production rose from 1.6% in February to 1.7% in March.