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British industrial production rises 0.4 percent in Oct

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(Globalpost/GlobalPost)

LONDON, Dec. 10 (Xinhua) -- British Industrial production posted a monthly rise of 0.4 percent in October driven by broad-based increase in manufacturing sector, said the Office for National Statistics (ONS) on Tuesday.

It said industrial production output increased by 3.2 percent in October year-on-year with manufacturing rising 2.7 percent.

There was a 13.4 percent rise in mining and quarrying, and 8.8 percent rise in water supply, sewerage and waste management sectors.

The ONS said that the largest contribution to the upward of production was the manufacture of transport equipment, which rose by 16.8 percent.

Britain's car manufacturing in October posed the fastest pace of growth so far this year, boosted by domestic demand.

The country produced 160,854 cars in October, up by 17.4 percent year-on-year, according to the latest figures from the Society of Motor Manufacturers and Traders.

Britain's trade deficit of 2.6 billion pounds (3.5 billion U.S. dollars) was unchanged in October from its revised level in September, while the goods deficit narrowed by 400 million pounds to 9.7 billion pounds.

Total exports fell by 1.4 percent in October compared with the previous month, the second successive monthly fall. The deficit remained unchanged due to a 1.1 percent monthly drop in imports.

"October's figures on industrial production and trade offered some good news for the fovernment's oft-proclaimed ambition for an economy more biased towards manufacturing. But, on the external side, the picture remains weak," economic research company Capital Economics said in a statement.

"For now, the British economic recovery looks like remaining a distinctly domestic affair."

It predicted that with household spending powering the economic recovery, import growth could start to pick up in coming months.

http://www.globalpost.com/dispatch/news/xinhua-news-agency/131210/british-industrial-production-rises-04-percent-oct