Bad news for George Osborne as new figures reveal UK manufacturing shrank in April
Overall industrial production grew by 0.1% for the month
George Osborne’s march of the makers is still stuttering, according to official figures released today showing that manufacturing output contracted by 0.2% in April on the previous month, following gains of 1.1% in March and 0.7% in February.
However, overall industrial production grew by 0.1% month on month, 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. Mining and quarrying, including oil and gas extraction, grew by 0.9% on the month according to the Office for National Statistics.
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/CIPS 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% 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 today forecast that the economy grew by 0.6% in the three months ending in May, down from the 1% expansion it estimated in the three months to April. The NIESR is forecasting total growth over 2013 of 0.9%, driven primarily by the services sector.
- 1 Finland schools: Subjects scrapped and replaced with 'topics' as country reforms its education system
- 2 The West has it totally wrong on Lee Kuan Yew
- 3 #FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
- 4 Scientists have discovered a simple way to cook rice that dramatically cuts the calories
- 5 Zayn Malik quits One Direction: Hundreds of workers request compassionate leave following band member's exit
Germanwings captain Patrick Sondenheimer tried to break into locked cockpit door 'with an axe' as plane was descending
Amanda Knox murder conviction: Italian court overturns verdict for US student and Raffaele Sollecito in the killing of Meredith Kercher
Saudi Arabia says it won't rule out building nuclear weapons
The battle for the Middle East's future begins in Yemen as Saudi Arabia jumps into the abyss
#FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
Nigel Farage brands LGBT activists 'filth' and 'scum' and accuses them of scaring away his children after they invade his local pub
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Russia threatens Denmark with nuclear weapons if it tries to join Nato defence shield
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Germanwings plane crash live: Co-pilot Andreas Lubitz wanted to 'do something people would remember him for'
£32000 - £38000 per annum: Ashdown Group: A successful accountancy practice in...
£18000 - £23000 per annum + Uncapped commission: SThree: Does earning a 6 figu...
£18000 - £25000 per annum: Recruitment Genius: This is an exciting opportunity...
£35000 - £40000 per annum: Recruitment Genius: A challenging opportunity for a...