UK industrial output rises above forecasts

Industrial production leapt in September above market forecasts, according to new figures released by the Office of National Statistics (ONS). Industrial output jumped up 0.9% between the months of August and September, easily beating predictions of a 0.5% rise. Output for September was more than 2% higher than for the same period last year, which in turn marked the strongest annual growth since January 2011. Manufacturing, mining, quarrying and water management all contributed significantly to increased industrial productivity during September. Manufacturing saw a 1.2% rise alone in output between August and September. The figures for industrial production were in marked contrast to August, when the biggest decline for almost a year was recorded. Jamie Blessed, Corporate Manager for Skipton Business Finance, said: “The latest ONS figures are in line with anecdotal evidence from own manufacturing clients, who are also seeing growth and increasing output”.