Some very welcome news for us all in the property business today as UK output sees surprise increase. UK industrial output rose unexpectedly in April - the first month-on-month climb since February 2008, official figures have shown. Output rose by 0.3% from the previous month, the Office for National Statistics said. Analysts had been expecting output to fall by 0.1%. Manufacturing rose 0.2% in April, which was also an unexpected increase.
Meanwhile, a respected research institute has forecast that the UK economy may be at a turning point. T he National Institute of Economic and Social Research (NIESR) has estimated that UK economy resumed growth in April and May after a sharp decline of 1.9% in the three months to March.
Martin Weale, director of NIESR, was reported as saying that he "expects the official figures to show either that the recession is over or that it is close to over" in the second quarter of 2009.
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