Manufacturing continues to grow strongly
1 min read
Manufacturing output grew by 1% between January and February, its third consecutive monthly rise, according to the latest figures from the Office of National Statistics (ONS).
The main components contributing to the increase were the manufacture of basic pharmaceutical products & pharmaceutical preparations; the manufacture of transport equipment and the manufacture of food products, beverages & tobacco.
Total production output increased by 2.7% between February 2013 and February 2014. This reflects increases of 3.8% in manufacturing; 8.5% in water supply, sewerage & waste management and 0.2% in mining & quarrying.
The main manufacturing components contributing to the increase between February 2013 and February 2014 were the manufacture of rubber & plastic products & other non-metallic mineral products; the manufacture of transport equipment and the manufacture of machinery & equipment not elsewhere classified.
The only decrease was in electricity, gas, steam & air conditioning output, which decreased by 8.8% between February 2013 and February 2014. This was attributed to the average temperature in February 2014 being warmer than February 2013.
Lee Hopley, chief economist at the EEF, said: "Output now stands at its highest level in more than two-and-a-half years, with companies reporting good trading conditions both at home and in overseas markets.
"All manufacturing indicators are lining up for a strong first quarter growth rate, highlighting that industry remains a vital cog in the UK's continuing recovery."
