United Kingdom Industry January 2017

United Kingdom

United Kingdom: Industrial production dips in January

March 10, 2017

Industrial production decreased 0.4% in January over the previous month, contrasting the revised 0.9% rise recorded in December (previously reported: +1.1% month-on-month) and in line with analysts’ expectations. The decline was largely driven by the highly erratic pharmaceuticals sector, which often sees significant monthly swings due to the delivery of large contracts, causing the manufacturing sector to contract. The water supply, sewerage and waste management sector also declined in January compared to the prior month. On the other hand, the mining and quarrying and electricity, gas, steam and air conditioning sectors enjoyed healthy growth in January.

Industrial production increased a solid 3.2% over the same month of the previous year in January, down from December’s 4.3%, while annual average growth in industrial production picked up from 1.2% in December to 1.4% in January.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 1.1% in 2017, which is up 0.1 percentage points from the previous month’s forecast. For 2018, the panel expects industrial production to increase 0.2%.

Author:, Economist

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United Kingdom Industry Chart

United Kingdom Industry January 2017

Note: Month-on-month seasonally adjusted and year-on-year variation in %.
Source: Office for National Statistics (ONS).

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