UK industrial production unexpectedly rises in April

UK industrial production unexpectedly rose in April from a year earlier, official data showed on Wednesday.

Output grew 1.6% year-on-year in April, beating forecasts for a 0.3% decline and following a 0.2% drop in March, the Office for National Statistics revealed.

On the month, industrial output gained 2.0% in April, ahead of estimates for a 0.1% increase and the previous month’s 0.3% rise.

Manufacturing production figures for April also surpassed expectations. Output edged up 0.8% on the year and 2.3% on the month, compared to forecasts for a 1.3% decline and zero growth respectively. Manufacturing production in March fell 1.9% on the year and rose 0.1% on the month.

“Despite the uncertainty surrounding the UK’s referendum on EU membership, which is just a fortnight away, this morning’s numbers show the industry has bounced back strongly,” said Dennis de Jong, managing director of UFX.com

“A healthy industrial base remains critical to the strength of the UK economy and Chancellor George Osborne will be hoping that this growth in the sector can be sustained heading into the second half of the year.”