British manufacturing rose by 0.9% in March from February, beating market forecasts for a half-percent gain; year-over-year, industrial production fell 2.6%, marking the 13th straight month of yearly declines
May 10, 2012
– Official figures show that British manufacturing rose by 0.9 percent in March, beating market forecasts for a more modest half-percent gain.
However, the Office for National Statistics also said Thursday that the output of all production industries fell by 0.3 percent in March compared to the previous month mainly because demand for electricity and gas for home heating fell sharply during the third-warmest March on record. The decline was expected.
The statistics agency noted that the 2.6 percent drop in industrial production compared to March last year marked the 13th consecutive month of year-on-year declines.
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