Monthly upturn for UK industry

Ben Southwood
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UK INDUSTRIAL production upticked in May yet remains on a downwards slope, according to data released yesterday by the Office for National Statistics (ONS) yesterday.

Production was 1.6 per cent lower in May than in the same month one year earlier, and 2.1 per cent lower in the three months to May than in the same three months a year ago. However, compared to April, production was up one per cent – the fastest monthly growth since March 2010.

The report, along with many analysts, puts the rise down to the movement of a bank holiday to June, which suggests that June’s figure will be depressed.