According to the latest data published by the Office for National Statistics (ONS) on Friday, the industrial sector in the UK showed a rebound in activity in March.
In comparison to the previous month, manufacturing output saw a growth of 0.7%, surpassing expectations of -0.1% and the -0.1% seen in February. Similarly, total industrial output grew by 0.7% MoM, beating expectations of 0% and the -0.1% seen in the previous month.
On an annualized basis, UK Manufacturing Production data reported a decrease of -1.3% in March, which was better than the predicted -2.5%. In the same period, total industrial output showed a drop of 2.0%, outperforming the expected -2.9% and the previous print of -2.7%.
In separate news, the ONS also published UK goods trade balance numbers, which indicated a value of GBP-16.356 billion in March. This figure was better than the expected GBP-17.50 billion and the previous value of GBP-16.635 billion.
The total trade balance (non-EU) was reported at GBP-5.458 billion in March, which was an improvement from the previous value.
Overall, these figures show positive growth in the UK’s industrial sector and an improvement in the country’s trade balance.
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