UK Industrial Production Rises More than Expected in April

UK

UK industrial production posted its biggest gain since 2012 as manufacturing pick-pick up.

Total production rose 1.6 percent in April when compared with a year earlier. All the four main sectors increased production with the largest contribution coming from manufacturing, which surged by 0.8 percent.

Month-on-month, total production output increased by 2 percent in April from 0.3 percent in March, while factory production rose 2.3 percent from 0.1 percent recorded in the previous month, the largest rise since July 2012, Office For National Statistics reported on Wednesday.

The basic contribution to the increase in manufacturing came from the manufacture of basic pharmaceutical products and pharmaceutical preparations, which increase by 8.6 percent, also the largest rise since February 2014.

Overall, 10 out of 13 UK manufacturing sectors increased production in April with a 3.9 percent increase in gas and electricity production.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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