Britain has slipped back into recession, factory production fell by 0.7% in April
The wider index for industrial output, including manufacturing, mining and quarrying, energy production, and water and waste management, remained unchanged between March and April, said ONS.
The biggest decreases were recorded in the food, drink and pharmaceuticals, while the biggest gains were registered the transport equipment production, such as car production.
Britain, the 7th largest economy in the world, slipped back into recession after the country’s GDP shrunk 0.2% in Q-1 this year.
A recession is defined as 2 successive Quarters of contraction.
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Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
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