UK manufacturing in remarkable rise

Added On January 12, 2018

New figures show the British economy picked up at the end of 2017, with GDP rising around 0.6 percent in the final quarter.
Helping the upturn is the manufacturing sector, which is growing at its fastest pace since the 2008 financial crisis.
According to the Office of National Statistics, industrial production grew by about 0.4 percent month on month in November.
That's now seven consecutive months of growth, and so the strongest period of expansion since 1987.
On a three-month basis, total industrial production rose by 1.2 percent over three months, making a significant positive contribution to GDP growth in Q4.
UK manufacturing has been helped by a growing world economy and strong growth in the nearby eurozone. 
Factory order books have also been boosted by a slump in the pound, making exports more attractive overseas.
However, the expanding sector has done little to tackle the UK's export problem. 
The ONS said Britain's trade deficit grew to a five month high in November, as the country imported an extra 2.8 billion pounds than it exported - a gap of around 3.8 billion U.S. dollars. 
With stronger than expected data, a leading think-tank upped its predictions for UK growth.
The National Institute of Economic and Social Research now predict the UK economy to have grown by 0.6 percent in the fourth quarter. 
That's up on the 0.4 percent recorded in Q3, and means the UK economy advanced 1.8 percent for the whole year.