Monthly UK production output rose by estimated 0.7% in March

15 May '23

1 min read

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Insights

Monthly UK production output is estimated to have risen by 0.7 per cent in March.
This follows falls of 0.1 per cent and 0.3 per cent in February and January respectively.
Quarterly production output for the first quarter this year rose by 0.1 per cent compared with Q4 2022, and is the first positive quarterly growth in index of production since Q2 2021.

Monthly production output in the United Kingdom is estimated to have risen by 0.7 per cent in March this year, the strongest monthly growth to the index of production (IoP) since May 2021, when it was 1.4 per cent, according to the Office of National Statistics (ONS).

This follows falls of 0.1 per cent and 0.3 per cent in February and January respectively.

Both these months see small upward revisions of 0.1 and 0.2 percentage points respectively.

Looking at the longer-term profile, quarterly production output for the first quarter (Q1) this year rose by 0.1 per cent compared with Q4 2022, and is the first positive quarterly growth in IoP since Q2 2021.

Growth came primarily from manufacturing (0.5 per cent).

Monthly manufacturing output increased by 0.7 per cent and saw 7 of its 13 sub-sectors positively contributing to growth during March 2023.

ALCHEMPro News Desk (DS)

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