United Kingdom Industry

United Kingdom

Industrial output expands more than expected in June

In June, industrial production expanded 1.1% over the previous month on a seasonally adjusted basis. The figure follows three consecutive flat readings and marks the strongest expansion since July of last year. Moreover, the result came in above market expectations of a 0.6% increase.

The improvement was largely driven by the manufacturing sector. Manufacturing output rebounded from a 0.7% month-on-month contraction in May to a 1.9% expansion in June, which was larger than the 0.7% rise the markets had expected.

In annual terms, industrial production rose 1.2%, which contrasted the 2.3% contraction recorded in May and marked the first expansion after 27 consecutive periods of decline. As a result, annual average growth in industrial production rose from minus 2.6% in May to minus 2.1% in June.

FocusEconomics Consensus Forecast panellists project industrial production to contract 0.7% in 2013, which is up 0.1 percentage points over the previous month's forecast. For 2014, the panel anticipates growth in industrial production to rebound and expand 1.3%.

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United Kingdom Industry Chart

United Kingdom Industry June 2013

Note: Month-on-month seasonally adjusted and year-on-year variation in %.
Source: Office for National Statistics (ONS).

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