Recovery of British Industrial Production Announced
11 de enero de 2017, 09:30London, Jan 11 (Prensa Latina) Official data published today say that British industrial production recovered in November boosted by the oil and gas sectors.
Economists consider it is a new signal that the economy maintained its impulse at the end of 2016 despÃ¬te the impact of the vote in favor of abandoning the European Union (EU) last June, known as Brexit.
However, the yield of the trade balance deteriorated, according to the same data published this Wednesday.
A record increase in imports greatly exceeded the volume of exports that also reached a historic maximum, without still observing an improvement in the balance due to the fall of the pound sterling since the referendum.
The Office of National Statistics added that the industrial production rose 2.1 percent in November, recovering from a 1.1 percent fall in October and exceeding the expectations of a 0.8 percent increase awaited by economists.
The report indicates that production in the manufacturing sector rose1.3 percent after a contraction of one percent in October.
All this comparing to a forecast of 0.5 percent rise. In inter-yearly terms, the increase of industrial production was two percent, also exceeding expectations.
The resistance of the British economy since the decision in June to withdraw from the EU is supported almost completely in the country's services sector.
On the contrary, official data show that manufactures still do not show a clear benefit from the fall in the value of the pound sterling after the referendum and factories face a strong increase in the costs of imported goods.
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