Boost For UK Economy 
Tuesday, July 10, 2012, 11:52 AM
Posted by Glazers
It has been revealed that UK manufacturing unexpectedly rose during May, as it was boosted by an additional working day, after the government moved a public holiday to June – and this is said to have provided a boost to the economy.

Latest figures released by the Office for National Statistics have revealed that during May, factory output rose by 1.2 percent compared to April’s figures; whilst the overall industrial output increased by one percent for the same period.

The Office for National Statistics have also revealed within the latest figures, that out of just over a dozen categories in manufacturing, eight rose in May and five declined, compared to the previous month.

Despite the figures providing a welcome boost to the UK economy, the Office for National Statistics have warned that May and June’s figures should be taken with caution, as the government had moved the UK’s annual public holiday at the end of May for the Queen’s Jubilee; and also added an extra holiday in June.

The warning from the Office for National Statistics was also echoed by one economist, who said: “It’s a very good number, but it’s entirely because of the extra day during the month. Underneath it all, it is hard to say what the underlying path of manufacturing is.”

For more information, please contact Glazers, Chartered Accountants London or visit www.glazers.co.uk




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