FXStreet (Mumbai) – The data released by the UK Office for National Statistics (ONS) on Wednesday showed industrial production in April rose 1.2% year-on-year, beating the estimate of a 0.6% rise. The previous figure stands unrevised at 0.7%.
Month-on-month, the production rose 0.4% in April, compared to 0.5% rise seen in March. However, Manufacturing activity registered 0.4% contraction on month, missing the estimate of a 0.1% rise. Year-on-year, manufacturing activity expanded just 0.2%, which is significantly lower than the expected rate of 0.4% and the previous rate of 1.1%.
As per the ONS report, In the 3 months to April 2015, production and manufacturing were 9.5% and 4.4%, respectively below their figures reached in the pre-downturn gross domestic product (GDP) peak in Quarter 1 (Jan to Mar) 2008.
(Market News Provided by FXstreet)