In October, industrial production declined 0.7% over the previous month in seasonally adjusted terms, which contrasted the flat reading observed in September and exceeded market expectations of a more moderate 0.3% decrease. Compared to the same month last year, industrial output dropped 1.7% (September: -1.5% year-on-year) and has now been contracting uninterruptedly for eight straight months. Manufacturing production also dropped 0.7% over the previous month, while market participants' had expected manufacturing production to drop by just 0.3%. On an annual basis, industrial production grew a meagre 0.3%. As industrial production figures remain weak, the downward trend continued, with annual average growth in industrial production falling from 0.4% in September to 0.0% in October.
United Kingdom Industry
Industrial production falls in October
December 7, 2011
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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.