UK Index of Production, February 2013

thenews 2013.04.09 06:48

Key points

Users are reminded that the figures within this release are estimates and are on a seasonally adjusted basis.
Both production and manufacturing fell in February 2013 when compared with February 2012 by 2.2% and 1.4% respectively. There are downward contributions from all sectors with manufacturing and mining & quarrying the most significant.
On the month, February 2013 compared with January 2013, both production and manufacturing rose by 1.0% and 0.8% respectively. All sectors rose during this period – this last happened in July 2012. Despite the increase in production the index is still only, though, the same level as in September 2012.
These estimates for the production industries are the first of the main components for the output measure of GDP (construction and services are the other components) to be published for February 2013, the second month of quarter one 2013. All the components are already available for January 2013, the service industries (77% of the output measure of GDP) were estimated to have increased by 0.3% between December 2012 and January 2013, compared with a revised fall of 1.3% in production and 6.3% (non-seasonally adjusted) in construction.
The February estimates for construction will be published on the 12 April with the estimates for services published on the 25 April alongside the preliminary estimate for quarter one 2013 GDP.