UK`s manufacturing production accelerates the most in 6 months

Manufacturing production in the UK grew by 0.4% in March, the highest rate in 6 month as reported by Bloomberg. The main points of the report are:

• Total production output is estimated to have increased by 0.1% between Quarter 4 (Oct to Dec) 2014 and Quarter 1 (Jan to Mar) 2015. Manufacturing, the largest component of production, is also estimated to have increased by 0.1% between these periods.
• The largest contribution to the quarterly growth came from electricity, gas, steam & air conditioning output, which increased by 2.7%.
• Total production output is estimated to have increased by 0.7% in March 2015 compared with March 2014. There were increases in 2 of the 4 main sectors, with manufacturing output being the largest contributor, increasing by 1.1%.
• Total production output increased by 0.5% between February 2015 and March 2015. The largest contribution to this increase came from mining & quarrying, which increased by 2.6%.
• Manufacturing output increased by 0.4% between February 2015 and March 2015. The main contributors to the increase were basic pharmaceutical products & pharmaceutical preparations; other manufacturing & repair; and rubber, plastic products & other non-metallic mineral products.
• In the 3 months to March 2015, production and manufacturing were 10.2% and 4.8% respectively below their figures reached in the pre-downturn GDP peak in Quarter 1 (Jan to Mar) 2008.
• The preliminary estimate of GDP, published on 28 April 2015, contained an estimated decrease of 0.1% for production in Quarter 1 (Jan to Mar) 2015. This release of data estimates that production increased by 0.1% between Quarter 4 (Oct to Dec) 2014 and Quarter 1 (Jan to Mar) 2015 and the impact on the previously published GDP estimate for Quarter 1 (Jan to Mar) 2015 is less than 0.1 percentage points, rounded to 1 decimal place.

The report can be found here.