News
UK industrial output stronger than forecasted
07 - 11 - 2013
British industrial production output increased more than expected in September, according to figures recently released by the Office for National Statistics (ONS).
Output in the industrial sector – which accounts for about a sixth of the UK economy – rose by 0.9 per cent between August and September, beating the 0.5 per cent increase economists had predicted.
September’s output was 2.2 per cent higher than the same period last year, making it the strongest yearly growth since January 2011.
The figures show that manufacturing, mining, quarrying and water management all added to September’s growth.
The figures show that manufacturing, mining, quarrying and water management all added to September’s growth.
‘Nearly zero growth’
However, economists have warned against reading too much into the figures.
Alan Clarke at Scotiabank said that increased industrial output in September just reversed the fall experienced in August.
‘Taking the two together shows there was nearly zero growth in the last two months,’ he said. ‘There can only be better news to come.’
