UK manufacturing output disappoints in March

| May 12, 2011 | 0 Comments
UK manufacturing output disappoints in March

The Office for National Statistics (ONS) has today revealed UK manufacturing output grew 0.3% in March on a monthly basis – much less than the 0.8% rise expected by analysts.

The figure follows February’s shock fall and analysts had expected output to rebound in March.

The fall was attributed to the ongoing maintenance work on oil and gas fields, which continues to hamper production.
Meanwhile, output rose 0.7% on an annual basis.

Manufacturing, which accounts for around 13% of economic output, has been one of the bright spots in the UK economy and while it has the ability to drive the recovery, pricing pressures are posing a threat.

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