In September, industrial output contracted 1.7% over the previous month in seasonally adjusted terms. The reading represents a deterioration over the 0.5% decline recorded in August and undershot market expectations of a 0.6% contraction. The subdued reading reflects a severe decline in mining and quarrying sector, which recorded its largest drop in over 12 years (-15.3% month-on-month) as a result of maintenance on the North Sea oil rigs. That said, manufacturing output also disappointed by increasing a paltry 0.1%, which contrasted the 1.2% drop seen in August but came in below market expectations of a 0.4% increase. In annual terms, industrial output decreased 2.6%, which was well below the revised 1.0% contraction seen in August (previously reported: -1.2% year-on-year). As a result, the trend is pointing down again, with annual average growth in industrial output edging down from minus 2.3% in August to minus 2.4% in September.
United Kingdom Industry
Industrial output plummets in September amid North Sea oil platforms maintenance
November 6, 2012
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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.