UK Manufacturing Output Gets February Boost

UK manufacturing output rose 0.8% in February as it rebounded from a snowy January, according to official figures.

The increase was almost double economists' forecasts and comes after a 1.9% drop in the previous month.

The Office for National Statistics (ONS) said overall industrial output in Britain rose 1%, which was also above forecasts.

The encouraging February figures come as concerns continue about the risk of Britain sinking into a so-called triple-dip recession.

However, the balance of trade in February reached £9.41bn as imports exceeded exports of British goods.

The imbalance was up 15% on January's trade figure and the lowest value of goods exported since June.

Sky News Economic Editor Ed Conway said: "The trade deficit has deteriorated over the course of the recession.

"The concern is the UK's recovery has not been allowed to fully take place, partially because there isn't an appetite in Europe for Britain's goods."

The ONS figures also showed the smallest year-on-year fall in manufacturing output since July and the biggest quarter-on-quarter rise in industrial production since September.

James Knightley, from ING, added: "With the UK's largest oil and gas field coming back on-stream in March, likely leading to another positive gain in output, we are more optimistic that the UK can avoid its third technical recession in five years.

"Unfortunately, February's trade numbers were not as good with the trade deficit posting a sharp widening, largely due to disappointing trade with the eurozone."

The overall industrial production increase was led by the mining and quarrying sector, which rose by 2.8%.

Gas and electricity were up 1.3%, boosted by an increasing demand on energy during cold weather, as temperatures lingered well below the monthly average.

It was the biggest month-on-month rise in the production of electricity and gas since October.

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