United Kingdom: Industrial production contracts for fifth straight month in January
March 12, 2019
Industrial production rose 0.6% in January over the prior month according to the Office for National Statistics, contrasting December’s 0.5% decline. January’s figure was driven by expansions in the manufacturing; mining and quarrying; and electricity, gas, steam and air conditioning subsectors, while the water supply subsector contracted over the previous month.
Industrial production fell 0.9% in annual terms in January, matching December’s figure. Annual average growth in industrial production declined from 0.7% in December to 0.5% in January.
UK Industrial Production Forecast
FocusEconomics Consensus Forecast panelists see the industrial sector remaining weak going forward, and project that industrial production will increase 0.3% in 2019 and 0.8% in 2020.
Author: Oliver Reynolds, Economist