UK industrial production in May better than forecasts
Total production output is estimated to have increased by 1.4% in May 2016 compared with May 2015. There were increases in 3 of the 4 main sectors, with the largest contribution coming from manufacturing (the largest component of production), which increased by 1.7%.
The largest contribution to the increase in manufacturing came from the manufacture of transport equipment, which increased by 6.6%.
Total production output is estimated to have decreased by 0.5% in May 2016 compared with April 2016. There were decreases in 3 of the 4 main sectors, with the largest downward movement coming from manufacturing, which decreased by 0.5% and contributed -0.3 percentage points to total production.
The largest contribution to the decrease in manufacturing came from the manufacture of basic pharmaceutical products & pharmaceutical preparations, which decreased by 6.5%, having increased in the previous month by 9.0%.