Growth in UK industrial output

Growth in UK industrial output


Source: NIESR, 8 June 2016

  • The UK’s industrial output grew by 1.5% in the three months to the end of May, according to the National Institute of Economic and Social Research (NIESR), building on a strong reading from the previous month
  • Having been a disappointing contributor to overall economic growth earlier this year, when industrial output was shrinking, industry is now expanding more quickly than the economy as a whole
  • UK industry still has a way to go before it is back to its peak, however: at the end of the first quarter of this year, the volume of industrial production was still 10.7% below its pre-recession peak of the first quarter of 2008 even though GDP had already surpassed its pre-recession peak by 7%
  • The industrial sector represents 9% of the UK equity market, as measured by the MSCI UK All Cap index, and its recovery will be watched closely by active managers who can pick the sector’s best stocks and avoid any remaining laggards

Question for your clients

  • What is your exposure to industrials in your UK equity allocation?

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