In July, industrial output soared a seasonally-adjusted 2.9% over the previous month. The reading benefitted from a favourable base effect, as in the preceding month, industrial production had plummeted a revised 2.4% (previously reported: -2.5% month-on-month) amid an additional number of holidays in June. That said, the reading represents the fastest pace of expansion in 25 years and surprised the market on the upside, as analysts expected industrial output to grow 1.5%. The improvement was broad-based, with most categories expanding over the previous month. In particular, manufacturing production increased 3.2%, which contrasted the 2.9% contraction seen in June. The robust figure marked the strongest increase since July 2002 and also overshot market expectations that had factory output rising 1.8%. Compared to the same month last year, industrial output contracted 0.8%, which, nevertheless, represents an improvement over the 3.8% decline recorded in June. In addition, the trend finally halted its downward trend, with annual average growth in industrial output edging up from minus 2.4% in June to minus 2.3% in July.
United Kingdom Industry
Industrial output rebounds vigorously in July
September 7, 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.