United Kingdom: Industrial production contracts for fourth straight month in December
February 12, 2019
Industrial production decreased 0.5% in December over the prior month according to the Office for National Statistics, down from November’s revised 0.3% fall (previously reported: -0.4% month-on-month). December’s figure was driven by contractions in the manufacturing; and electricity, gas, steam and air conditioning subsectors, while the mining and quarrying and water supply subsectors expanded over the previous month.
Industrial production fell 0.9% in annual terms in December, up slightly from November’s revised 1.3% decline (previously reported: -1.5% year-on-year). Annual average growth in industrial production declined from 0.8% in November to 0.7% in December.
UK Industrial Production Forecast
FocusEconomics Consensus Forecast panelists see the industrial sector remaining weak going forward, and project that industrial production will increase 0.6% in 2019 and 0.9% in 2020.
Author: Oliver Reynolds, Economist