British Manufacturing Output Rebounds Sharply

Sept. 7, 2012
"There is now genuine hope that the economy will be able to more than make up the second-quarter GDP contraction of 0.5% quarter-on-quarter in the third quarter," IHS Global Insight economist Howard Archer.

By the largest amount in a decade, British manufacturing output surged in July, rebounding from the previous month when activity was hit by public holidays for Queen Elizabeth II's diamond jubilee.

Production soared 3.2% in July from June to record the biggest monthly rise since July 2002, the Office for National Statistics (ONS) said in a statement. However, it fell 0.5% on an annual basis.

Manufacturing activity had contracted by 2.9% in June, when the country celebrated the Queen's diamond jubilee with two public holidays.

The ONS added Friday that the wider measure of industrial output -- which includes manufacturing, mining and quarrying, electricity, gas and water supply -- rebounded by 2.9% in July from June.

That was the strongest monthly increase since February 1987.

IHS Global Insight economist Howard Archer said the upbeat data would provide a "significant" boost to hopes of economic growth in the third quarter, or three months to the end of September.

"There is now genuine hope that the economy will be able to more than make up the second-quarter GDP contraction of 0.5% quarter-on-quarter in the third quarter," he said.

Britain sank into recession in late 2011 and has experienced three successive quarters of economic contraction.

Gross domestic product shrank by 0.4% in the fourth quarter of last year, and by 0.3% and 0.5% respectively in the first and second quarters of 2012.

Copyright Agence France-Presse, 2012

Popular Sponsored Recommendations

Discrete and Process Manufacturing 2024 Trends and Outlook for North America

Oct. 29, 2023
Manufacturers are reaping the benefits of automation and cloud-based solutions. Discover what is driving today's industry trends and how they can shape your growth priorities ...

Process Mining For Dummies

Nov. 19, 2023
Here it is. Everything you need to know about process mining in a single book, written in the easy-to-understand, hard-to-forget style that ‘For Dummies’ manages so effortlessly...

Discover How an Eye Tracking Study Improves Training Procedures

Oct. 29, 2023
Did you know that your training processes can be streamlined by visualizing and analyzing key skills within your employee base? Find out how we use eye tracking to capture advanced...

Digitally Transforming Data and Processes With Product Lifecycle Management

Oct. 29, 2023
Manufacturers face increasing challenges in product development as they strive to consistently deliver improved results. Discover how industry leaders are improving time-to-market...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!