UK manufacturing production grows in August

Manufacturing production in Britain grew more than expected in August, data released on Wednesday showed.

According to the Office for National Statistics, manufacturing output climbed 0.5% month-on-month in August compared with a 0.8% decline in July and with analysts’ expectations for a 0.3% gain.

The main manufacturing components contributing to the growth were the manufacture of transport equipment, basic metals and metal products as well as food, beverages and tobacco, the report added.

However, on a year-on-year basis, manufacturing production fell 0.8% compared with a 0.5% hike in July and with consensus expectations for a 0.2% decline, driven lower by a 13% drop in the manufacture of machinery and equipment not elsewhere classified.

In the quarter to August, manufacturing output was 6.5% lower the pre-crisis figure.