UK Industrial output posts a surprise rise

Expectations that the economy is recovering were reinforced today by data showing the first rise in industrial production for 14 months.

UK Industrial output in April rose 0.3 per cent from March, according to the Office for National Statistics, the first rise since February 2008. Analysts had forecast a fall of 0.1 per cent.

In a further boost to confidence, manufacturing output between March and April rose 0.2 per cent. It was the second month output rose after March's previously reported drop of 0.1 per cent was revised up.

The data is the latest in a spate of more upbeat indicators about the economy.

Last week, a key survey suggested that during May service industries, the engine room of the economy, grew for the first time in more than a year. The CIPS/Markit barometer of services conditions climbed to 51.7 from 48.7 in April in a sixth consecutive rise, taking it back above the key 50 mark that signals renewed expansion.

Continue reading.. http://business.timesonline.co.uk/tol/business/industry_sectors/industrials/article6469221.ece


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