none
none

UK manufacturing bounces back

31-08-2010
by 
in 
UK manufacturing bounces back

Britain's manufacturing output is growing much more rapidly than expected, according to latest industry data.

Output jumped by 1.9 percent in June – its fastest growth since July last year.

The Office for National Statistics (ONS) said in a statement all 13 components of the manufacturing index showed growth for the first time since June 1992.

Industrial production, including mining, electricity, gas and water supply -- increased by 1.1 percent in June from May, according to the ONS.

UK car sales grew at an annual 12.7 per cent for the month, prompting the trade industry group SMMT to increase its forecast for the year.

"June's surge in UK industrial production is the most convincing sign yet that the sector is sharing in the recovery already evident in the rest of the economy," said Samuel Tombs, an economist at the Capital Economics research group.

Recent official data showed that the British economy grew by 0.6 percent in the second quarter, cementing its recovery from recession.

Gross domestic product (GDP) grew by 0.6 percent in the three months to the end of June. This compared to a gain of 0.3 percent in the previous quarter and is the first time since 2011 that Britain has achieved back-to-back quarterly increases.

Related news & editorials

  1. 14.11.2017
    14.11.2017
    by      In
    Australia should be doing more to reach out into the world and build a global export brand. 
    That’s the conclusion of a major review by the Committee for Economic Development of Australia (CEDA) report, and its conclusions are supported by export data, and comments from Christopher Pyne. 
    The CEDA... Read More
  2. Manufacturing grows despite automotive closures
    01.11.2017
    01.11.2017
    by      In
    Australian manufacturing continued to grow in October, despite the closure of both the country’s remaining automotive assembly plants. The Ai Group’s Australian PMI came in at 51.1 for the month, a figure that is still indicative of growth, albeit at a much-reduced rate than in recent months.
    It... Read More
  3. Celebrations in Copenhagen
    17.10.2017
    17.10.2017
    by      In
    Nilfisk has been successfully listed as an independent company on the Copenhagen Stock Exchange. To mark the event on 12th October, the leadership team, led by CEO Hans Henrik Lund, rang the opening bell to mark the historical milestone in the company’s history.
    “Nilfisk has successfully been a... Read More
  4. Senator the Hon Michaelia Cash
    09.10.2017
    09.10.2017
    by      In
    The Acting Minister for Industry, Innovation and Science, Senator the Hon Michaelia Cash, has launched the second round of the Australian Government’s $8 million Women in STEM and Entrepreneurship (WISE) grants programme, which is open to businesses, not-for-profits, education and research... Read More