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Thứ ba, ngày 5 tháng 11 năm 2024
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Ngày 07/08/2014-08:41:00 AM
British industrial production increases 1.2 pct in June

British industrial output increased by 1.2 percent in the year to June 2014, the Office of National Statistics (ONS) reported Wednesday.

Britain saw a 1.9 percent output growth in manufacturing in June compared with a year earlier, and 0.4 percent increase in water supply, sewerage and waste management sector.
Meanwhile, output in mining and quarrying, and electricity, gas, steam and air conditioning decreased by 1.0 and 0.4 percent respectively over the same period, said ONS.
Total production increased by 0.3 percent between May 2014 and June 2014, with output growth in three of the main sectors, of which manufacturing acting as the largest contributor, data showed.
The growth rate was below the 0.4 percent estimate published in last month's gross domestic product (GDP) report.
Between the first and second quarter of 2014, however, production output increased by 0.3 percent and manufacturing output grew by 0.2 percent.
Both of them were well below their figures reached in the pre-downturn GDP peak in the first quarter of 2008, said the statistics arm of the government.
Paul Hollingsworth, assistant economist at Capital Economics, said in a note: "June’s industrial production figures confirm that the onus remained on the services sector to keep the recovery chugging along in the second quarter."
"However, we don’t think that the latest figures signal the end of the manufacturing revival," he added.
The London-based economic research company maintains its expectation that British manufacturing output will grow by a robust 3 percent both this year and next.
Martin Beck, senior economic adviser to the EY ITEM Club, also commented in an analysis piece: "Although the economy’s expansion showed less balance in the second quarter, with services driving growth in output, we remain optimistic about the production sector’s prospects."
“The strength of domestic demand should help in part to compensate for the weakness overseas. So the economy’s expansion will hopefully see more support from industry over the second half of the year,” noted Beck./.

English.news.cn

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