UK manufacturing grows five times faster than expected

British factory production has surged ahead at a rate five times faster than expected in March as the weak pound helped revitalise Britain's export trade.

The pound has dropped approximately 25% against a trade-weighted basket of currencies since the start of 2007, boosting export competitiveness. This is borne out in the latest data from the Office for National Statistics (ONS) which shows manufacturing output rose 2.3% from February, far ahead of the 0.4% predicted by economists and the biggest jump since 2002. Of the 13 manufacturing categories, 12 increased, led by basic metals and metal products, and paper, printing and publishing. Overall industrial production, including utilities, mining and quarrying, which accounts for almos...