Industry in United Kingdom

United Kingdom Industry | Economic News & Forecasts

United Kingdom - Industry

Decline in industrial activity softens in March

Industrial output slid 0.2% month-on-month in seasonally-adjusted terms in March (February: -0.3% mom). March's smaller contraction was largely due to a rebound in mining and quarrying output, which partially offset declines in manufacturing and utilities output.

On an annual basis, factory output grew 0.7% in March, which was below February’s 2.1% expansion. Accordingly, the trend pointed down, with the annual average growth of industrial production coming in at 6.8%, down from February's 7.0%.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 2.4% in 2022, which is down 0.2 percentage points from last month’s forecast, and 1.7% in 2023.

United Kingdom - Industry Data

2015   2016   2017   2018   2019  
Industrial Production (annual variation in %)1.0  1.1  1.7  0.8  -1.4  

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United Kingdom Industry Chart

United Kingdom Industry
Note: Annual variation of industrial production in %.
Source: Office for National Statistics (ONS) and FocusEconomics calculations.

United Kingdom Facts

Value Change Date
Bond Yield0.83-3.04 %Jan 01
Exchange Rate1.33-0.35 %Jan 01

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