Business, industry and trade Turnover in production and services industries: Apr 2017 Monthly turnover, exports, and orders for the production and services industries. Construction output in Great Britain: Apr 2017 and new orders Jan to Mar 2017 Output in the construction industry fell 0.6% in the 3 month on 3 month time series; driven mainly by a 0.9% fall in all new work, representing the first 3 month on 3 month fall in construction output since September 2016. Construction output also fell month-on-month in April 2017, dropping 1.6%; driven by falls in both repair and maintenance, and all new work. The fall in all new work in April 2017 was somewhat offset by a sizeable rise in infrastructure, which grew by 5.7% compared with March 2017. UK non-financial business economy: 2015 revised results In 2015, the approximate gross value added at basic prices (aGVA) of the UK non-financial business economy was estimated to be £1,147.2 billion; this amount represents the income (turnover) of UK businesses, less the cost of goods and services consumed in the production process (purchases). The level of aGVA increased by 5.3% (£57.4 billion) in 2015 compared with an increase of 8.4% (£84.9 billion) in 2014; this is a continuation of the growth between 2009 and 2014. Economy UK index of production: Apr 2017 In the 3 months to April 2017 compared with the 3 months to January 2017, the Index of Production was estimated to have decreased by 1.2%, due mainly to falls of 5.8% in energy supply and 0.7% in manufacturing. The highly volatile pharmaceuticals sector fell by a record 11.9% and provided the largest downward pressure on manufacturing, following an increase of 10.1% in the 3 months to January 2017. Short-term indicators economic commentary: June 2017 Today's (9 June 2017) data indicate that UK economic activity varied across the headline industries in April 2017, following slow growth in Quarter 1 (Jan to Mar) 2017. Following high levels of production in the 3 months to January 2017, total production output fell by 1.2% in the 3 months to April 2017; this reflected a 5.8% contraction in energy supply and a 0.7% contraction in manufacturing. UK trade: Apr 2017 Between the 3 months to January 2017 and the 3 months to April 2017, the total trade deficit (goods and services) widened by £1.7 billion to £8.6 billion; this followed a narrowing in the 3 months to January 2017 and is mainly due to increased imports in March 2017. At the commodity level, the main causes of the widening of the deficit in the 3 months to April 2017 were increased imports of aircraft, cars and chemicals; however, there was a fall in exports of services during the period. |
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