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.