United Kingdom: Industrial activity dips in September
Industrial production slid 0.4% month-on-month in seasonally-adjusted terms in September (August: +1.0% mom). Looking at the details of the release, manufacturing output swung to contraction in September, while electricity, gas, steam and air conditioning supply output contracted at the same rate as in August. Meanwhile, water supply output declined at a milder pace.
On an annual basis, factory output grew 2.9% in September, which was below August’s 4.0% expansion and marked the worst result since February. Meanwhile, annual average industrial production growth rose to 5.1% in September (August: +4.4%). This signals an improving trend in the industrial sector.