Industrial production in the UK increased in March short of forecast

In March, industrial production in the UK increased by 0.1% compared to February, when the rise was also 0.1%. In annual terms, growth was 2.9%, according to the Office for National Statistics. Analysts had predicted the growth of the first indicator by 0.2%, the second one - by 3.1%. Decline in production for the month was recorded in the coal industry by 22.7%, in manufacturing - by 0.1%, in the pharmaceutical industry - by 5.2% and in the production of electrical equipment - by 4.2%. The rise was noted in the oil refining industry - by 2.7%, in mechanical engineering - by 9.3%. As a result of the first quarter, industrial production increased by 0.6% compared to the previous quarter.

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