The most recent UK production statistics were published today by ONS. They show that production as a whole (which includes manufacturing, mining and quarrying – mainly North Sea oil and gas – and the gas, electricity, water, waste etc. production utilities) increased by just 0.1% between Q4 of 2014 and Q1 of 2015.
Looking at March 2015, production is estimated to have increased by 0.7% on March 2014, with manufacturing up over the year by 1.1%. This is well below the estimated increase in GDP overall, which means that the UK economy is increasingly reliant on the service sectors for its momentum – and the much-promised rebalancing of the economy (including the “march of the makers”) is continuing to recede.