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Industrial output declines 0.4%
UK industrial output declined by 0.4% in April compared to March, according to figures released by the Office for National Statistics (ONS).
This figure comes as a suprise as tt had been predicted that output would rise. This is the first fall in monthly production since January.
However, experts said the drop should be seen as a correction after a particularly strong jump in output in March of 2% and levels are still 2% higher than in April last year.
"The volatile monthly movements in these figures are somewhat at odds with more positive survey indicators though they conceal a solid year-on-year increase in output," said Lee Hopley, chief economist at the EEF manufacturers' organisation.
Post Date: June 11th, 2010
This figure comes as a suprise as tt had been predicted that output would rise. This is the first fall in monthly production since January.
However, experts said the drop should be seen as a correction after a particularly strong jump in output in March of 2% and levels are still 2% higher than in April last year.
"The volatile monthly movements in these figures are somewhat at odds with more positive survey indicators though they conceal a solid year-on-year increase in output," said Lee Hopley, chief economist at the EEF manufacturers' organisation.
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Post Date: June 11th, 2010
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