Date: Tuesday 10 Jul 2012
UK industrial production rose unexpectedly in May, helped by a bank holiday slipping back into June.
However, analysts said there would be 'payback' in the June figures, when a working day was lost to the bank holiday, as well as the extra public holiday set aside for the Queen’s Diamond Jubilee celebrations.
Production rose by 1% between April 2012 and May 2012, with manufacturing rising by 1.2%, according to figures from the Office for National Statistics.
Analysts had pencilled in no rise.
Dr Howard Archer, UK Economist at IHS, said UK manufacturers were clearly facing a very challenging domestic and international environment.
"A double dose of good news on the UK economy with industrial production unexpectedly rising in May and the trade deficit narrowing more than expected," he said.
"However, the news is not quite as good as first appears, and there will be payback in June on the industrial production front."
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