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UK sees 'robust' manufacturing growth UK industrial output rises at fastest annual pace since 2011
(about 1 hour later)
UK manufacturing output grew by 0.4% in April from March, the Office for National Statistics (ONS) has said. UK industrial output grew at its fastest annual pace for three years in April, figures have shown.
The rise - driven by transport equipment, electronic products, and rubber and plastics - has been seen as a sign of "robust" growth by industry experts. Output rose by 3% in April from a year earlier, the Office for National Statistics (ONS) said, the fastest annual rate since January 2011.
Year-on-year, output was 4.4% higher than in the same month of 2013. The narrower measure of manufacturing output rose 4.4% year-on-year, the fastest pace since February 2011.
Overall industrial output also increased by 0.4% in April. Analysts said the figures showed the sector was still enjoying "robust growth".
Compared with a year previously, industrial output was up by 3%, rising at the fastest annual pace since January 2011. Both industrial output and manufacturing output increased by 0.4% during April itself, the ONS said.
The industrial output figure includes North Sea oil production and power generation, as well as manufacturing. Manufacturing output was boosted by transport equipment, electronic products, and rubber and plastics.
Production and manufacturing were respectively 11.3% and 7.0% below the pre-downturn GDP peak of the first quarter of 2008. However, the levels of industrial output and manufacturing output were respectively 11.3% and 7.0% below the pre-downturn GDP peak of the first quarter of 2008, the ONS said.
Nevertheless, experts still hailed the figures. 'Healthy contribution'
Continuing trend
"Robust momentum in manufacturing shows no sign of easing, with activity across the sector broadening out impressively over the past year," said Neil Prothero, deputy chief economist at manufacturers' body EEF."Robust momentum in manufacturing shows no sign of easing, with activity across the sector broadening out impressively over the past year," said Neil Prothero, deputy chief economist at manufacturers' body EEF.
"Production is now at its highest level in five years, highlighting industry's prominent role in the economic upturn, despite the subdued trend in external trade.""Production is now at its highest level in five years, highlighting industry's prominent role in the economic upturn, despite the subdued trend in external trade."
IHS Global Insight's chief UK and European economist, Howard Archer, said that manufacturing output had expanded month-on-month for five successive months, and that "this fuels hopes that the sector can make a sustained contribution to balanced UK growth".IHS Global Insight's chief UK and European economist, Howard Archer, said that manufacturing output had expanded month-on-month for five successive months, and that "this fuels hopes that the sector can make a sustained contribution to balanced UK growth".
In addition, a "robust gain in industrial production in April indicates that it started off the second quarter on the front foot and is well placed to make a healthy contribution to GDP growth", he said.In addition, a "robust gain in industrial production in April indicates that it started off the second quarter on the front foot and is well placed to make a healthy contribution to GDP growth", he said.
Last week, the IMF warned the UK government that accelerating house prices and low productivity posed the greatest threat to the UK's economic recovery, but that there was evidence that the economy was now rebalancing towards an "investment-led recovery".Last week, the IMF warned the UK government that accelerating house prices and low productivity posed the greatest threat to the UK's economic recovery, but that there was evidence that the economy was now rebalancing towards an "investment-led recovery".