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| UK manufacturing sector surges in June | |
| (about 1 hour later) | |
| Manufacturing output surged in June at the strongest pace since the end of 2010, according to figures from the Office for National Statistics (ONS). | Manufacturing output surged in June at the strongest pace since the end of 2010, according to figures from the Office for National Statistics (ONS). |
| Manufacturing output rose 1.9% month-on-month in June, following declines in both May and April. | Manufacturing output rose 1.9% month-on-month in June, following declines in both May and April. |
| This growth came at more than twice the rate expected by analysts. | This growth came at more than twice the rate expected by analysts. |
| The latest upbeat news follows a stream of recent economic data that has indicated an improvement in the UK economy. | |
| Picking up pace | |
| Overall, industrial production, which covers output from the UK's factories and mines, rose by 1.1% between May 2013 and June 2013. | Overall, industrial production, which covers output from the UK's factories and mines, rose by 1.1% between May 2013 and June 2013. |
| The figure was held back by lower oil and gas extraction and a fall in energy output, the ONS said. | The figure was held back by lower oil and gas extraction and a fall in energy output, the ONS said. |
| However, manufacturers reported rises in output across all sectors, with the strongest contribution coming from transport equipment, up 5.3%. | However, manufacturers reported rises in output across all sectors, with the strongest contribution coming from transport equipment, up 5.3%. |
| Lee Hopley, chief economist at manufacturers' organisation EEF, said chemicals, electrical equipment and transport had shown particular strength over the past three months. | Lee Hopley, chief economist at manufacturers' organisation EEF, said chemicals, electrical equipment and transport had shown particular strength over the past three months. |
| "The production data gives further weight to the view that manufacturing activity will continue to gain pace, becoming a more important contributor to growth in the year ahead," she said. | "The production data gives further weight to the view that manufacturing activity will continue to gain pace, becoming a more important contributor to growth in the year ahead," she said. |
| Manufacturing output was up 0.7% between the first and second quarters of 2013 and up 2% from June 2012. | Manufacturing output was up 0.7% between the first and second quarters of 2013 and up 2% from June 2012. |
| The statistics mirrored the recent manufacturing PMI survey by Markit, which indicated that the sector grew at its fastest pace for more than two years in July. | The statistics mirrored the recent manufacturing PMI survey by Markit, which indicated that the sector grew at its fastest pace for more than two years in July. |