U.K. industrial production rises 2.0% in April
The Office for National Statistics (ONS) released its manufacturing and industrial production figures for the U.K. on Wednesday. Industrial production in the U.K. rose 2.0% in April, exceeding forecasts of a flat reading, after a 0.3% rise in March.
The increase was mainly driven by a rise in manufacturing.
On a yearly basis, industrial production in the U.K. increased 1.6% in April, beating expectations for a 0.4% drop, after a 0.2% decrease in March.
Manufacturing production in the U.K. was up 2.3% in April, beating expectations for a flat reading, after a 0.1% rise in March. It was the largest rise since July 2012.
The rise was mainly driven by an increase in the manufacture of basic pharmaceutical products and pharmaceutical preparations, which rose by 8.6% in April.
On a yearly basis, manufacturing production in the U.K. increased 0.8% in April, after a 1.9% drop in March.