Manufacturing grows, but less than predicted

Government figures show manufacturing and production increased at the end of 2013

UK industrial production increased in December, but not as much as anticipated, according to the Office for National Statistics (ONS).

The figures reveal that manufacturing output rose by 0.3% in December (1.5% year-on-year), production – which includes mining and quarrying, energy supply and water supply and waste management sectors – rose by 0.3% (1.8% year-on-year) in December.

The largest contributors to manufacturing growth in the month came from basic pharmaceutical products & preparations, coke & refined petroleum products, and food products, beverages & tobacco.

Lee Hopley, chief economist at EEF, the manufacturers’ organisation, said: “Manufacturers had a strong finish to 2013, but more encouraging, are the indicators we’ve seen since the start of the year which suggest that positive trend has rolled into the early part of 2014.

“The business surveys have been pointing to a decent picked up in the home market, but the trade data today shows the export story has yet to follow. However, with more confidence that export demand will gather pace through the course of this year, we should expect the official data to follow suit,” he added.