UK Economy Grows Due to Manufacturing Push

UK economic growth accelerated for the first quarter of 2019 which was driven by the highest pick-up in manufacturing since the 1980’s.

According to the Office for National Statistics (ONS) gross domestic product (GDP) rose to 0.5% for the first quarter, as the original Brexit deadline loomed.

Compared to the previous quarter growth was 0.2% as car manufacturing fell to its steepest rate in under ten years.

GDP was up by 1.8% compared to the same quarter last year, and jn the quarter production output was up by 1.4%. This was boosted by a 2.2% hike in manufacturing.

Strong first quarter performance unlikely to last for the rest of the year says Yael Selfin, chief economist at KPMG UK, “A strong manufacturing performance in the first quarter coincides with survey evidence, which points at manufacturing continuing to outpace services in coming months.

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