Electronics Playing A Vital Role In Increasing Manufacturing Output
The number of electrical goods manufactured including PCB interconnection pins
, went up in March which shocked analysts.
The statistics released by the Office for National Statistics indicate that UK manufacturing output increased by 0.9%, which was a vast improvement on the 1.1% fall in February.
Furthermore, the ONS stated that sectors including electronics, chemical and transport equipment helped to stabilise the economy.
Electronic equipment manufacturing, which included the production of PCB interconnection pins, rocketed up by 12.1% in the first quarter of the year, which ended the bad run of two previous quarterly falls in that sector.
Moreover, industrial production dropped by 0.3%, which was largely affected by the decreases in oil and gas production.
Andrew Johnson, senior economist at EEF, the manufacturers' organisation, reflected on the figures by suggesting that they indicated a slight improvement in manufacturing.
"This suggests manufacturing is in a better position at the start of this year than it was at the end of 2011," he stated.
Of the 13 manufacturing sub-sectors, 8 increased, 4 dropped and one remained level.
The chemicals sector made the biggest contribution to the growths seen in manufacturing output, increasing by 5.6%.
The production of transport equipment also increased by 4.3% and the production of wood and paper products dropped by 2.3%.
"The challenges clearly remain formidable, especially with regard to major European markets," Mr Johnson added.
"Whilst the mixed picture across individual sectors suggests we are some way yet from establishing a strong and consistent growth path."
Furthermore, last month, ONS data revealed that the UK economy had contracted by 0.2% in the first quarter of the year, thus putting the UK back into a double-dip recession.
Despite the economy contracting, some leading economists believe that the official statistics do not fully represent the true strength of the economy and that the real picture could be much more positive.
Recent predictions by the Confederation of British Industry suggest that the economy will begin to grow in the latter part of 2012, with even greater GDP growth throughout 2013.
"Despite the disappointing GDP estimate for the first quarter from the ONS, we still think the UK economy will grow in 2012, with faster growth next year," stated CBI director general John Cridland.
"Optimism among businesses has been increasing since the turn of the year, with manufacturing demand holding up. And that is beginning to translate into more jobs and investment."
by:Brendan Wilde
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