Thursday, July 07, 2011
Manufacturing bounces back
Posted by David Smith at 09:45 AM
Category: Thoughts and responses

Manufacturing output rose by 1.8% in May, following a 1.6% drop in April. Manufacturing output was up by 2.8% compared with a year earlier. Though this was a good bounce in activity - spread across most manufacturing sectors - it left output down by 0.2% over the latest three months. A further recovery from tsunami and bank holiday effects will be needed for manufacturing to make a contribution to growth in the second quarter.

The bigger problem is with overall industrial production, dragged down by a weak energy sector. While industrial production rose by 0.9% between April and May, it was down by 0.8% on a year earlier and by 1.5% over the latest three months. More here.