Mubasher: The UK’s production index rose 0.6% in the first quarter of 2018 from the previous quarter, data released on Thursday showed.

The index’s gain is mainly ascribed to a 2.5% increase in energy supply, which in turn came on the back of a 2.2% rise in mining and quarrying activity and 0.2% in manufacturing, according to the Office for National Statistics (ONS).

Year-on-year, UK production grew 2.0%, while month-on-month, it was estimated that production went up by 0.1% in March.

Meanwhile, the manufacturing sector’s quarter-on-quarter growth of 0.2% was primarily driven by a 4.1% increase in machinery and equipment, 1.7% in transport equipment, and 4.4% in electronic equipment.

In March, manufacturing output shed 0.1% from the previous month, although the ONS said that the month’s heavy snowfall did not have a major impact on the output.

“In the three months to March 2018 growth has fallen due mainly to a reduction in the growth rate of both export and domestic turnover, and a slow-down in basic metals and metal products due to a high growth in the three months to December 2017,” the ONS stated.

By 9:15 am GMT, the GBP/USD pair surged 0.17% to $1.3570, while GBP/EUR pair fell 0.05% to EUR 1.1424.