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UK manufacturing picks up the pace
Source: Agencies |
September 9, 2009, Wednesday
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BRITISH manufacturing output rose at its fastest monthly rate in 18 months in July, helped by a sharp pick up in car production, official data showed yesterday.
The Office for National Statistics said factory output rose 0.9 percent in July, the biggest rise since January 2008 and triple analysts' expectations for a 0.3 percent increase.
The wider measure of industrial output, which includes energy production, rose more than twice as fast as expected, by 0.5 percent in the month but fell 9.3 percent on the year.
The figures suggest Britain's economy has made a stronger start to the third quarter and may emerge from recession before the year's end.
The ONS said July's gain in manufacturing was mainly due to gains in the transport sector, which was boosted by a 10.4 percent rise in motor vehicle production, the second monthly rise in a row.
The car sector has been helped by the government's scheme which gives motorists a cash incentive to trade in their old cars for new ones. Still, total manufacturing output was 10.1 percent down on the year.
June's readings for manufacturing and industrial output were revised up slightly by the ONS.
The Office for National Statistics said factory output rose 0.9 percent in July, the biggest rise since January 2008 and triple analysts' expectations for a 0.3 percent increase.
The wider measure of industrial output, which includes energy production, rose more than twice as fast as expected, by 0.5 percent in the month but fell 9.3 percent on the year.
The figures suggest Britain's economy has made a stronger start to the third quarter and may emerge from recession before the year's end.
The ONS said July's gain in manufacturing was mainly due to gains in the transport sector, which was boosted by a 10.4 percent rise in motor vehicle production, the second monthly rise in a row.
The car sector has been helped by the government's scheme which gives motorists a cash incentive to trade in their old cars for new ones. Still, total manufacturing output was 10.1 percent down on the year.
June's readings for manufacturing and industrial output were revised up slightly by the ONS.
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