June, the Fastest Growing Manufacturing Sector UK
Production growth in the UK manufacturing sector rose at its fastest pace in June 2013. According to data from the National Statistics Office (ONS), this is the fastest growth since the end of 2010. Manufacturing production rose 1.9 percent compared to June after always recorded a decline in May and April.
This increase is two times higher than analyst predictions. This growth is fueled by economic data that showed improvement in the UK economy. In general, industrial production consisting of manufacturing and mining production rose 1.1 percent in May and June.
»Data production in the manufacturing sector, this is a picture that the manufacturing sector will continue to gain momentum and become a more important contributor to economic growth in the years ahead,” said economist for Manufacturing Sector in UK Manufacturing organization, EEF, Lee Hopley, as quoted by page BBC, Tuesday, August 6, 2013.
Growth in the manufacturing sector is the most widely contributed by transportation equipment sector (5.3 percent). »Industrial electrical equipment and transportation has shown a positive trend in the last three months,” he said. UK manufacturing production rose 0.7 planners in the first and second quarter of 2013.
Growth in the UK manufacturing sector is hampered by the decrease in gas processing and oil production in the UK as well as in the energy sector lower.