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UK industrial output posts strongest gain in 6 months in March

by ChemOrbis Editorial Team -
  • 12/05/2015 (13:32)
According to data from the Office for National Statistics (ONS), industrial production in the UK posted the strongest rate of growth in six months in March. Industrial production increased 0.5% on the month, beating the initial estimates, which called for stable figures for March, in a survey by Bloomberg. On a yearly basis, industrial output gained 0.7% from a year earlier.

The increase was attributed to higher oil and gas extraction, which rose 4.9% to post the largest gain since February 2014. The data also showed that manufacturing output recorded a monthly increase of 0.4%, beating Bloomberg economists’ estimates, which called for a gain of 0.3%.

In the first quarter of this year, meanwhile, the country’s industrial output figure was revised to an increase of 0.1% from a decline of 0.1%.
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