UK Manufacturing Grows 1.4 Percent in First Quarter

May 9, 2014 Share Print 0

UK manufacturing output grew by 1.4% in the first quarter of the year, the strongest quarterly pace since 1999, Office for National Statistics (ONS) figures show.

The was further good news for the economy as construction output grew by 5.4% in the quarter.

The ONS also said that the UK trade deficit fell to £1.3bn in March.

Separately, research organisation NIESR upgraded its growth forecast for the UK economy to 2.9% in 2014.

This was up from its previous estimate of 2.4%.

NIESR also increased its growth estimate for 2015 to 2.4% from 2.1%, and sees growth remaining at about 2.4% for the following two years.

via BBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.