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Fireworks light up the sky over Buckingham Palace, lit in colours of the Union flag after the Party At the Palace as part of the Golden Jubilee celebrations in London Monday, June 3, 2002. Britain's Queen Elizabeth has been the British monarch for 50 years, since the death of her father George VI in 1952. (AP Photo/Steve Holland
AP Photo/Steve Holland
How celebratory!
QUARTZ CHARTBOOK

April data show that the UK recovery is really happening

By Gwynn Guilford in Europe

We recently hailed the arrival of the UK recovery. The good news is it wasn’t a false positive. Here’s a roundup of the latest data:

The UK’s industrial production grew for the third consecutive month in April (pdf), rising 0.1% in March and beating expectations of a slight contraction.

In the three months ending in April, production jumped 0.9%, the fastest rate of growth since July 2010.

Manufacturing output fell 0.2% in April, compared with March—but that was expected, given strong growth in March and possible disruptions from Easter.

As a result, manufacturing output for the three months ending in April is probably more useful. That rose 0.5% on the prior three months.

Markit Group, which collects and analyzes business activity data, says that an upturn in May’s manufacturing activity, which broke a 13-month high, puts the UK on track to hit 0.5% GDP growth in Q2 (pdf).