More good news for the Tories – just days after winning a surprise majority the latest economic figures show the economy is doing better than expected.
Latest figures from the Office of National Statistics show industrial production rose in March rose 0.5% compared to February, while production was 0.7% on March a year ago – both well above City estimates.
Analysts had forecast industrial production to rise 0.3% month-on-month and 0.2% compared to March’s figure last year. That compares to a 0.1% rise in February’s year-on-year figure.
Manufacturing production (which strips out the struggling oil and gas sector) increased by 0.4% month-on-month and by an incredible 1.1% on last year’s figure.
Here’s how it looks in context. Though the UK’s economy broke through 2008 peak levels last year, manufacturing and industry are still way behind: