Britain’s beleaguered manufacturing sector may finally be on the up, with new figures from the Office for National Statistics showing a second consecutive month of growth.
The ONS reported a 0.7% increase in May’s production – ahead of analysts’ predictions of 0.2% – following a revised 1.1% rise in April. It attributed the gains to strong output growth in the food, drink and tobacco sectors between March and May.
However, June’s figures may be less impressive, given the extra bank holiday for the Queen’s golden jubilee and the impact of the soccer World Cup finals.
Data sourced from: BBC Online Business News (UK); additional content by WARC staff