United Kingdom: Industrial output growth wanes in August
October 9, 2020
Industrial production increased 0.3% on a calendar-adjusted month-on-month basis in August (July: +5.2% mom).
August's notable loss of momentum was largely due to easing manufacturing growth and a sharper decline in mining output.
On an annual basis, industrial output plummeted 6.4% in August, moderating from July’s 7.4% fall and marking the best result since February. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 7.3% in August, down from July's minus 7.0%.
Author: Oliver Reynolds, Economist