- POSTED: 08 Jul 2014 17:54
Industrial output across Britain surprisingly slid in May, official data showed on Tuesday.
LONDON: Industrial output across Britain surprisingly slid in May, official data showed on Tuesday.
Output fell by 0.7 per cent in May compared with a gain of 0.3 per cent in April, the Office for National Statistics (ONS) said in a statement.
Analysts' consensus forecast was for another gain of 0.3 per cent in May, according to a survey by Dow Jones Newswires.
Over a 12 month period, industrial output jumped by 2.3 per cent in May, the ONS added, also falling below market expectations for a gain of 3.2 per cent.
Manufacturing output -- which excludes mining and quarrying, electricity, gas and water supply -- dropped 1.3 per cent in May compared with April. It increased by 3.7 per cent year-on-year.