Manufacturing down, but production fuels hope
George Osborne's march of the makers is stuttering but industrial production is still likely to contribute to growth, according to figures released tomorrow.
Manufacturing output contracted by 0.2 per cent in April on the previous month, following gains of 1.1 per cent in March and 0.7 per cent in February. However, overall industrial production grew by 0.1 per cent, the third successive rise, prompting City analysts to hail further evidence of an economic improvement.
"The nascent industrial recovery is for now still under way," said Samuel Tombs of Capital Economics.
Despite the less impressive manufacturing figures, Lee Hopley, of the manufacturers' organisation EEF, said: "We are still looking at a pick-up in activity across UK manufacturing through the second half of this year."
The Markit purchasing managers' survey for manufacturing in May showed overall activity expanding at the fastest rate in over a year.
The overall economy grew by 0.3 per cent in the first quarter of 2013, meaning the UK avoided a return to recession, and surveys covering the services and construction sectors last week pointed to a brightening picture in the second quarter.
The National Institute of Economic and Social Research forecast that the economy grew by 0.6 per cent in the three months ending in May, down from the 1 per cent expansion estimated in the three months to April.
- 1 Fifty Shades of Grey trailer released: First look at Jamie Dornan as Christian Grey
- 2 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 3 50 books for students to read this summer: From Ernest Hemingway to Gillian Flynn
- 4 Students offered grants if they tweet pro-Israeli propaganda
- 5 Rebecca Hall on her film career so far: ‘I’ve played too many repressed neurotics’
Israel-Gaza conflict: Israeli targeting policy under scrutiny after shellfire hits a mother and child, a school full of refugees and a doctor’s home
Peaches Geldof: Her final day – and her fatal decision
Students offered grants if they tweet pro-Israeli propaganda
Iraq crisis: Isis orders Mosul shop keepers to cover mannequins
Israel-Gaza conflict: Israel may have committed war crimes, says UN human rights chief
Malaysia Airlines MH17 crash: Vladimir Putin is given 'one last chance' to end hostilities in Ukraine
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
The truth about conspiracy theories is that some require considering
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
iJobs Money & Business
£60000 per annum: Harrington Starr: Trade Desk Specialist (Linux, Windows, FIX...
£40000 - £60000 per annum + BONUS + BENEFITS: Harrington Starr: CXL, Triple Po...
£70000 - £90000 per annum + Job Satisfaction: Harrington Starr: Project Manage...
£300 - £350 per day: Harrington Starr: C#.NET Developer C#, WPF,BLL,MVVM, SOA...