Industry in United Kingdom
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
|Industrial Production (annual variation in %)||1.0||1.1||1.7||0.8||-1.4|
5 years of economic forecasts for more than 30 economic indicators.
United Kingdom Industry Chart
Source: Office for National Statistics (ONS) and FocusEconomics calculations.
United Kingdom Facts
|Bond Yield||0.83||-3.04 %||Jan 01|
|Exchange Rate||1.33||-0.35 %||Jan 01|
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