Selasa, 09 Juli 2013

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Unexpected fall in UK manufacturing

Red hot metal at a forgemasters in Sheffield

UK manufacturing unexpectedly fell in May, contracting at its fastest pace since January, official figures show.

The 0.8% drop was weaker than analysts had forecast, with most predicting a rise. Other figures showed the wider measure of industrial output was unchanged.

The figures run counter to recent data that has shown the economy picking up.

Last week, a manufacturing sector survey recorded the best growth for nearly two years in June.

"Output gains in electrical equipment and transport sectors weren't enough to offset bigger contractions in pharmaceuticals and metals," said Lee Hopley of the manufacturers' organisation EEF.

"We did, however, see some growth in exports and signs of stabilisation in Europe providing a slight lift for overseas sales," she added.

"While the ONS data suggest industry's contribution to growth in the second quarter is likely to be limited, there are signs that confidence is returning and growth should start to resume as we move into the second half of the year."

David Tinsley from BNP Paribas said: "Overall, this is not a strong set of data and is a reminder that the surveys of manufacturing can often signal a different underlying picture to the monthly output data in the official sources.

"The momentum behind manufacturing remains disappointingly weak, which is troubling, given the economy needs to do more to rebalance towards sectors where it can hope to find demand for its exports."

The Office for National Statistics also said the UK's trade deficit grew to £8.491bn from £8.430bn in April. It was the highest level for six months.



Source: BBC News - Business http://www.bbc.co.uk/news/business-23237654#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa