Business Daily
Date: 09.06.2016
Page 21
Article size: 107 cm2
ColumnCM: 23.77
AVE: 45177.77
UK industry output jumps at fastest rate since 2012 on cars, pharmaceuticals
British industrial output grewatthefastest ain's European Union membership.
paceinnearlyfouryears in April,boosted by
Manufacturing output also rose at the
pharmaceuticals, car production and gas, in fastest pace since July 2012, up 2.3 per cent
contrast to other signs of a slowdown in the on the month following a 0.1 per cent in­
crease in March.
economy ahead of the EU referendum.
Industrial output rose two per cent in
The figures were boosted by the big­
April after a 0.3 per cent rise in March, the gest monthly rise in the often volatile
biggest month­on­month increase since pharmaceuticals sector since February
July 2012, the Office forNational Statistics
said. Economists polled by Reuters had ex­
pected it to stagnate on the month.
Bank of England policymakers are likely
to take the strength ofthe data with apinch
of salt, having warned economic figures are
likely to be volatile and tricky to interpret
2014, up 8.6 per cent. The ONS said there
anecdotal evidence of large export orders
in the industry.
Manufacturing represents around 10
per cent of British economic output and the
sector remains 6.4 per cent below its pre­
crisis peak. Looking at the three months
to April, which gives a better sense of the
underlying trend in what is often volatile
data, industrial output rose 0.7per cent, the
first increase this year.
Britain's overall economy slowed in the
first quarter, with the pace of growth easing
to 0.4 per cent compared with 0.6 per cent
in the previous three months.
ahead of the June 23 referendum on Brit­
­REUTERS
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