• UK industrial production rose sharply in March

Market news

12 May 2021

UK industrial production rose sharply in March

According to the report from Office for National Statistics, monthly production grew by 1.8% between February 2021 and March 2021 but remained 1.8% below its February 2020 level, the last month of "normal" trading conditions prior to the coronavirus (COVID-19) pandemic. Economists had expected a 1.0% increase.

The growth in production was driven by increases of 2.1% in manufacturing, 1.1% in water supply and sewerage, and 2.5% in mining and quarrying; these were offset partially by a fall in electricity and gas of 0.2%.

The 2.1% rise in manufacturing over the month was driven by higher output in 10 of the 13 manufacturing subsectors, the largest being a rise of 8.3% in manufacturing of machinery and equipment.

Production output for the three months to March 2021 (Quarter 1 2021) fell by 0.4% compared with the three months to December 2020 (Quarter 4 2020).

The coronavirus pandemic has had a generally negative impact on production output, although each sector has been affected differently: manufacturing output remains 2.2% below its February 2020 level and mining and quarrying is 10.2% below; however, electricity and gas is 1.9% above its February 2020 level and water supply and sewerage is 3.6% above.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.