United Kingdom: Industrial production bounces back in May
July 10, 2019
Industrial production increased 1.4% in May over the prior month according to the Office for National Statistics, contrasting April’s revised 2.9% decline (previously reported: -2.7% month-on-month). May’s figure was driven by growth in the the manufacturing, mining and quarrying, electricity, gas, steam and air conditioning, and water supply subsectors.
The manufacturing sector was the biggest contributor to May’s expansion, and was driven in part by a rebound in car output following temporary shutdowns at car plants in April. Industrial production increased 0.9% in May in annual terms, contrasting April’s revised 1.1% decline (previously reported: -1.0% year-on-year).
Author: Oliver Reynolds, Economist