United Kingdom Industry March 2021

United Kingdom

United Kingdom: Industrial output expands at quickest pace since July 2020 in March

May 12, 2021

Industrial output increased 1.8% month-on-month in seasonally-adjusted terms in March (February: +1.0% mom). March's reading marked the strongest rise since July 2020. The reading was partly due to faster growth in manufacturing output.

On an annual basis, industrial output increased 3.6% in March, contrasting February’s 3.5% fall and marking the best result since October 2017. Moreover, the trend improved notably, with the annual average variation of industrial production coming in at minus 7.2%, up from February's minus 8.3%.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 5.5% in 2021, which is up 0.3 percentage points from last month’s forecast, and 4.4% in 2022.


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United Kingdom Industry Chart

United Kingdom Industry March 2021

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

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