UK Manufacturing Production jumps by 2.1% MoM in March vs. 1.0% expected
|The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Wednesday, suggesting that Britain’s industrial sector is well on the recovery path after a covid lockdown-induced hit.
Manufacturing output arrived at 2.1% MoM in March versus 1.0% expectations and 1.5% booked in February while total industrial output came in at 1.8% vs. 1.0% expected and 1.0% last.
On an annualized basis, the UK manufacturing production figures came in at 4.8% in March, beating expectations of 3.7%. Total industrial output rebounded by 3.6% in March, against a 2.9% reading expected and the previous -3.5% print.
Separately, the UK goods trade balance numbers were published, which arrived at GBP-11.71 billion in March versus GBP-14.40 billion expectations and GBP-16.442 billion last. Total trade balance (non-EU) came in at GBP-6.548 billion in March versus GBP-15.407 billion expected.
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