By Marcus Leach
Official figures from the Office for National Statistics (ONS) released today (Thursday) have shown that UK manufacturing output bounced back in March.
February saw a 1.1% fall in manufacturing output, but a 0.9% rise in March, lead by chemicals, transport equipment, computer and electronics, bodes well for the economy.
Whilst the sector remains flat in general, the boost from the latest figures is a welcome one.
“The series is a volatile one. However production is now 2.6% lower than it was this time last year," Jeremy Cook, chief economist at foreign exchange company, World First, said.
“Some of this will be as a result of the issues in the Eurozone while the resurgence in the strength of GBP (13.5% higher vs the euro in the past 9 months) will have hurt our exports abroad.
“Manufacturing made a negative impact on the preliminary Q1 GDP reading and this number only offers encouragement to optimists that Q2’s will not follow a similar path.”