United Kingdom: Industry slightly decelerates in April
June 10, 2015
In April, industrial production rose 0.4% over the previous month, which was below the 0.6% increase observed in March. However, april’s figure came in above the 0.1% growth the market had expected.
Manufacturing swung from a 0.4% expansion in March to a 0.4% contraction in April. In addition, electricity, gas and steam contracted 3.3%, which was a deterioration over the 1.6% decrease seen in the previous month. Conversely, mining and quarrying accelerated and grew 5.6% (March: +2.9% year-on-year).
In annual terms, industrial production rose 1.2% in April, which was up from the 1.1% increase observed in March. However, annual average growth in industrial production fell from 1.4% in March to 1.2% in April, hitting the lowest level in a year.
Author: Dirina Mançellari, Senior Economist