March 2014
Featured in this insight: Manufacturing, engineering & industrial, Oil & gas
UK manufacturing has made a promising start to 2014: According to recent manufacturing data, British manufacturers started 2014 on solid footing in January but bad weather caused the broader measure of growth in industrial output to slow sharply.
The Office for National Statistics (ONS) said that manufacturing output grew by 0.4 per cent in January from December – despite a big fall in output in the pharmaceutical industry – and was 3.3 per cent higher than in the same month last year.
Overall industrial output, which includes power generation and Britain’s North Sea oil production as well as manufacturing, climbed 0.1 per cent on the month, a sharp slowdown from growth of 0.5 per cent in December.
The report also suggested that extraction of oil and gas was down 5.8 per cent in January compared with December. Bad weather impeded production among several companies.
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