UK manufacturing output contracts sharply, down 1.4% m/m in April
|The UK Office for National Statistics (ONS) published April industrial and manufacturing production data on Monday and below are the key highlights:
• Manufacturing output declined sharply by -1.4% on a monthly basis in April versus a contraction of 0.1% seen in the previous month. Meanwhile, total industrial output contracted by 0.8% in the reported month, as against a growth of 0.1% recorded in March.
• On annualized basis, the UK manufacturing production recorded a growth of 1.4% and total industrial output grew at an annualized pace of 1.8%.
• The report said that the monthly decrease in manufacturing output is the largest fall since October 2012 when it fell by 1.8%; there is widespread weakness with 9 of the 13 sub-sectors decreasing and this is a continuation of the recent slowdown in this sector.
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