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Factory Output Slumps

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British factory output fell at its sharpest monthly pace in two years in April due to the Royal Wedding and factory shutdowns after the Japan earthquake.

The Office for National Statistics said industrial output fell 1.7pc in April after a rise of 0.2pc in March. Economists had forecast a 0.1pc rise.

The narrower measure of manufacturing output - which does not include utilities or oil and gas extraction - dropped 1.5pc in April, the steepest fall since January 2009.

Today's data points to a sluggish start to the second quarter after the economy grew by just 0.5pc in the first three months of the year.

The warmest April on record also hit gas and electricity output for utilities.

The ONS said the extra public holiday for the Royal Wedding on April 29 has some impact on manufacturing data, as well as the wedding itself.

Fears are growing the manufacturing sector is faltering after leading the recovery over the past year as it benefited from a weak pound and demand from abroad.

The government and Bank of England are relying on strong export-driven growth in manufacturing in 2011 to fill the gap created by cuts in government spending and likely belt-tightening by consumers.

A right Royal Cockup

Phew...That's lucky. I was worried that the coalition's economic policy was flawed.......but fortunately it's due to the happy couple.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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