The Office for National Statistics (ONS) has reported that UK industrial industrial output and production has increased more than expected in September.
Economists’ predictions of 0.5% for September were surpassed as Industrial output increased by 0.9% in this period. The increase was due to increased productivity in manufacturing, mining, quarrying, and water management contributed to September’s growth.
Considering that the industrial sector currently makes up about a sixth of the UK economy this can only be another positive sign of a recovering and growing economy.
Output in September was 2.2% higher compared with the same period a year ago, marking the strongest annual growth since January 2011. Increased productivity in manufacturing, mining, quarrying, and water management contributed to September’s growth.
The ONS also said that manufacturing saw a 1.2% rise in output between August and September, with UK companies making more pharmaceuticals, transport equipment, computers, and electronics.
September’s growth lies in contrast to August, where industrial output fell unexpectedly, showing its biggest decline for nearly a year.
This news is great for Hastings and the surrounding areas as Hastings is a major manufacturing hub in the Southeast. Growth in sectors like this will help other sectors increase and generally raise confidence in the economy both locally and nationally. You can read more about Hastings industrial heritage and why manufacturing is well established and the advantages of moving your business, here.