–Nov manufacturing output +0.6% m/m; +5.6% y/y; median +0.5;+5.4
–Nov industrial production +0.4% m/m; +3.3% y/y; median +0.7; +3.4

LONDON (MNI) – Manufacturing continued to rise strongly in
November, boosted by a large rise in car production, figures released by
National Statistics showed Thursday.

Manufacturing output rose 0.6% on the month and was up 5.6% on the
year, slightly above the median forecast for a monthly increase of 0.5%
and an increase of 5.4% on the year. The rise on the month matched
October’s growth rate, which was the highest since March 2010.

The figures tally with recent survey evidence, including the
British Chambers of Commerce which pointed to strong export growth from
manufacturers.

The November figures were boosted by a 3.2% increase in the
manufacture of transport equipment, the largest rise since November
2009. The main upward impact came from motor vehicle output which posted
a 3.8% increase on the month.

There was also a significant boost from machinery and equipment and
food and drink output.

The latest strong data pushed the trend rate of growth up to its
highest level since June 2010. In the three months to November, output
rose 1.2% compared with the previous three months.

Growth in the wider measure of industrial production was pulled
lower by a 0.7% fall in oil and gas output, following a 4% fall in
October. National Statistics said that the October fall was due to
maintenance work in the North Sea and that the November decline could be
due to this work continuing.

Analysts had expected to see a stronger rise in industrial
production of 0.7% on the month and 3.4% on the year as they had
factored in a bounceback in oil output.

Output of the electricity, water and gas industries rose 0.3% on
the month in November following a 0.2% fall in October.

In the three months to November, growth remained strong with output
up 0.8% compared with the previous three months, up from 0.7% in the
previous period.

–London newsroom 4420 7862 7491 email: drobinson@marketnews.com

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