United Kingdom: Industrial production contracts in October
December 10, 2018
Industrial production decreased 0.6% in October over the prior month according to the Office for National Statistics, down from September’s flat reading. October’s figure was driven by contractions in the manufacturing; electricity, gas, steam and air conditioning; and water supply sectors, while the mining and quarrying sector expanded.
Industrial production fell 0.8% in annual terms in October, down from September’s flat reading. Annual average growth in industrial production declined from 1.4% in September to 1.0% in October.
Author: Oliver Reynolds, Economist