U.K. industrial output posts largest gain in 4 years
Data from the Office for National Statistics (ONS) showed that industrial output rose 2% after a 0.3% increase in March. Economists’ projections had called for no change in a survey conducted by Bloomberg. Industrial output rose 2.3% in April on a yearly basis, the largest gain since July 2012.
The increase in manufacturing was driven by a stronger pharmaceuticals sector, which posted an 8.6% increase in exports
The data showed that gas and electricity production increased 3.9% in April while oil and gas extraction decreased 1.3% on the month. Industrial production increased 1.6% while manufacturing rose 0.8% on the year. Industrial output was up 0.7% and 0.1%, respectively, in the last three months.
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