U.K. Manufactorings rebounds in March up to 0.9%

Thursday, 10 May 2012 05:41

In a report, the U.K. Office for National Statistics said that manufacturing production rose by 0.9% in March, beating expectations for a 0.5% increase. It’s a leading indicator of economic health – production reacts quickly to ups and downs in the business cycle and is correlated with consumer conditions such as employment levels and earnings;
Manufacturing production in the U.K. rose more-than-expected in March, advancing for the first time in three months, official data showed on Thursday.
February’s figure was revised to a 1.1% decline from a previously reported drop of 1.0%.

Following the release of the data, the pound trimmed losses against the U.S. dollar but remained lower, with GBP/USD shedding 0.1% to trade at 1.6110