In January, industrial production rose 0.1% over the previous month in seasonally-adjusted terms, which came in below the revised 0.5% increase recorded in December (previously reported: +0.4% month-on-month). January's mild increase came in slightly below the 0.2% expansion that markets had expected. Manufacturing output growth was stable at December's 0.4% in January, which slightly overshot the 0.3% rise that market had expected. Mining and quarrying swung from a 3.3% increase in December to a 3.4% fall in January. In addition, oil and gas output fell 5.8% in January affected by bad weather conditions, which contrasted the 4.9% increase recorded in December. Conversely, electricity, gas, steam and air conditioning supply rebounded from a 1.2% decrease in December to a 0.8% increase in January. In annual terms, industrial production rose 2.9% in January, which was an improvement over the 1.9% increase recorded in December. Annual average growth swung from minus 0.3% in December to plus 0.2% in January. FocusEconomics Consensus Forecast panelists project that industrial production will increase 2.0% in 2014, which is up 0.3 percentage points over the previous month's forecast. For 2015, the panel expects that industrial production will increase 1.6%.
United Kingdom Industry
Industrial output growth slows in January
March 11, 2014
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United Kingdom Industry Chart
Note: Month-on-month seasonally adjusted and year-on-year variation in %.
Source: Office for National Statistics (ONS).
United Kingdom Economic News
October 21, 2016
Following nearly four months of little or no news regarding formal negotiations with the European Union, in early October, Prime Minister Theresa May finally shed some light on the Brexit timeline and announced that Article 50 of the Lisbon Treaty will likely be triggered before the end of March 2017.
October 19, 2016
In September, jobless claims increased by 700 from the previous month, according to the Office for National Statistics (ONS).
October 18, 2016
In September, consumer prices increased 0.2% from the previous month, which came in below the 0.3% increase seen in the previous month.
October 8, 2016
In August, industrial production contracted 0.4% over the previous month in seasonally-adjusted terms, which contrasted the 0.1% increase recorded in July.
October 3, 2016
In September, the manufacturing sector recovered the ground it had lost after the EU referendum.