UK manufacturing in May grew at its fastest pace in more than 15 years, official data has shown. Manufacturing output rose by 4.3% on the same month a year ago, the highest rate since December 1994, the Office for National Statistics (ONS) said. The increase was driven by the machinery and equipment industries, as well as basic metals and metal products, the ONS said. Month-on-month, manufacturing output was 0.3% higher. "The new figures leave manufacturing firmly in positive territory when compared with a year ago, and they reinforce expectations that GDP will record stronger growth in the second quarter of 2010," commented David Kern, chief economist at the British Chambers of Commerce.
The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).
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