The Office for National Statistics (ONS) has published the industrial and manufacturing production data from the UK on Wednesday, suggesting that the British industrial sector is well on the way to recovery after the coup induced by the COVID lockdown.
The Manufacturing production reached 2.1% month-on-month in March compared to the 1.0% expected and 1.5% seen in February, while total industrial production reached 1.8% compared to 1.0% expected and the previous 1.0%.
On an annualized basis, UK manufacturing production figures were 4.8% in March, exceeding expectations of 3.7%. Total industrial production recovered 3.6% in March, compared to an expected reading of 2.9% and the previous reading of -3.5%.
On the other hand, UK goods trade balance figures came in at -11.71 billion pounds in March versus expectations of -14.40 billion and -16.442 billion the previous month. The total trade balance (outside the EU) was £ 6,548 million in March compared to the expected £ 15,407 million.
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