uk industry surges at fastest pace since 2012
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

UK industry surges at fastest pace since 2012

Arab Today, arab today

Arab Today, arab today UK industry surges at fastest pace since 2012

UK industry surges at fastest pace since 2012
London - Arab Today

British industrial output grew at the fastest pace in nearly four years in April, though economists said the surprise surge did not look like a return to stronger economic growth before the country’s EU referendum.

Industrial output rose 2.0 percent in April after a 0.3 percent rise in March, the biggest month-on-month increase since July 2012, official data showed. That was far stronger than even the highest forecast in a Reuters poll of economists.
Bank of England policymakers are likely to take the data with a pinch of salt, having warned that economic figures are likely to be volatile and tricky to interpret before the June 23 referendum on Britain’s European Union membership.
A recent overall slowdown in the economy is largely due to uncertainty about the outcome of the vote, according to the overwhelming majority of analysts in a Reuters poll published on Tuesday.
Organizations ranging from the BoE to the International Monetary Fund have warned of a shock to the economy if British voters opt to leave the EU.
The Office for National Statistics said manufacturing output also rose at the fastest pace since July 2012, up 2.3 percent on the month following a 0.1 percent increase in March.
“Despite the upbeat tone of the ... figures, it is far too soon to proclaim that the sector is out of the woods, or shrugging off Brexit uncertainty,” said Paul Hollingsworth, economist at Capital Economics.
The data, which sent sterling to a session high, were boosted by the biggest monthly rise in the often volatile pharmaceuticals sector since February 2014, as well as a surge in electricity and gas production in an unusually cold April.
Economists were doubtful that the figures heralded a return to solid growth.
“Our central expectation is that April’s spike corrects in May with a sharp fall, which would still mean that for Q2 as a whole, manufacturing production growth is slightly negative,” BNP Paribas economist Dominic Bryant said.
Manufacturing association EEF said the figures were in line with its view that the sector — which failed to contribute to economic growth in 2015 — is slowly turning a corner.
Manufacturing represents around 10 percent of British economic output and the sector remains 6.4 percent below its pre-crisis peak.
Looking at the three months to April, which gives a better sense of the underlying trend in what is often volatile data, industrial output rose 0.7 percent, the first increase this year.
Britain’s overall economy slowed in the first quarter, with the pace of growth easing to 0.4 percent compared with 0.6 percent in the previous three months.
Things could get worse in the current quarter. A series of surveys of businesses from Markit/CIPS published last week suggested growth was on course to slow to just 0.2 percent in the April-June period.
They also suggested some companies have put contracts on hold ahead of the referendum.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

uk industry surges at fastest pace since 2012 uk industry surges at fastest pace since 2012

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

uk industry surges at fastest pace since 2012 uk industry surges at fastest pace since 2012

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday