In February, industrial production added a seasonally adjusted 0.4% over the previous month. The figure contrasted the revised 0.6% decline recorded in January (previously reported: -0.4% month-on-month) but was in line with market expectation. The monthly increase was underpinned by robust growth in mining and quarrying, in particular oil and gas extraction, as well as in electricity, gas steam and air conditioning supply. In contrast, manufacturing output recorded a 1.0% contraction, which followed a 0.3% decline in January and defied expectations of a 0.1% increase. Compared to the same month last year, industrial production decreased 2.3% which represents an improvement over the 4.0% drop seen in January. Nevertheless, annual average growth in industrial output continues to point downwards, falling from minus 1.8% in January to minus 2.1%.
United Kingdom Industry
Industrial production rebounds despite a decline in manufacturing
April 5, 2012
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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.