United Kingdom Industry May 2021

United Kingdom

United Kingdom: Industrial output rebounds in May

July 9, 2021

Industrial output grew 0.8% in month-on-month seasonally-adjusted terms in May, which followed April's 1.0% decrease. Looking at the details of the release, manufacturing production shrank in May, while electricity, gas, steam and air conditioning supply output accelerated.

On an annual basis, industrial production rose at a more moderate pace of 20.6% in May (April: +27.2% yoy). Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at an over two-year high of plus 0.4%, contrasting April's minus 3.0% reading.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 6.7% in 2021, which is up 0.2 percentage points from last month’s forecast, and 4.1% in 2022.


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United Kingdom Industry Chart

United Kingdom Industry May 2021

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

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