Production output increased by 2.1% in May 2015, compared with May 2014. Manufacturing output increased by 1.0% in May 2015, compared with May 2014.
This Review draws together main economic stories from our economic statistics produced over the last month.
On an output per hour basis, UK labour productivity grew by 0.3% in the first quarter (Jan to Mar) of 2015.
UK gross domestic product in volume terms was estimated to have increased by 0.4% in Quarter 1 (Jan to Mar) 2015; revised up 0.1 percentage points from the previously published estimate.
The United Kingdom’s current account deficit was £26.5 billion in Quarter 1 (Jan to Mar) 2015, down from a revised deficit of £28.9 billion in Quarter 4 (Oct to Dec) 2014.
The Index of Services is estimated to have increased by 2.8% in April 2015 compared with April 2014. All of the 4 main components of the services industries increased in the most recent month compared with the same month a year ago.