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- U.K. manufacturing production drops 0.4% in April
U.K. manufacturing production drops 0.4% in April
The Office for National Statistics (ONS) released its manufacturing industrial production figures for the U.K. on Wednesday. Manufacturing production in the U.K. dropped 0.4% in April, missing expectations for a 0.1% gain, after a 0.4% increase in March.
Manufacturing output was driven by a decline in a decline in pharmaceuticals, which dropped 6.0%.
On a yearly basis, manufacturing production in the U.K. increased 0.2% in April, missing forecast of a 0.4% gain, after a 1.2% rise in March. March's figure was revised up from a 1.1% gain.
Industrial production in the U.K. climbed 0.4% in April, beating forecasts of a 0.1% rise, after a 0.6% gain in March. March's figure was revised up from 0.5% increase.
The increase in the industrial output was driven by higher oil and gas production. Oil and gas extraction increased 8.7% in April, the fastest pace since February 2014.
On a yearly basis, industrial production in the U.K. gained 1.2% in April, exceeding expectations for a 0.6% rise, after a 1.1% increase in March. March's figure was revised up a 0.7% rise.
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