In May, industrial production increased a seasonally-adjusted 1.0% over the previous month. The reading contrasted the 0.4% contraction seen in April and defied market expectations, which had industrial output falling 0.2%. The improvement was mostly underpinned by a strong rebound in manufacturing output, which swung from a 0.8% month-on-month contraction in April to a 1.2% expansion in May, beating market expectations of a 0.1% decline. Moreover, mining and quarrying output also improved markedly, recording a flat reading in May following on a 5.5% contraction in April. Compared to the same month last year, industrial output contracted 1.6%, which represents an improvement compared to the 2.0% decline seen in April. Nonetheless, the trend continued pointing downwards, with annual average growth in industrial output inching down from minus 2.0% in April to minus 2.1% in May.
United Kingdom Industry
Industrial production recovers in May
July 10, 2012
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United Kingdom Industry Chart
Note: Month-on-month seasonally adjusted and year-on-year variation in %.
Source: Office for National Statistics (ONS).
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.