United Kingdom Industry May 2018

United Kingdom

United Kingdom: Industrial production falls in May

July 10, 2018

Industrial production fell 0.4% in May over the prior month according to the Office for National Statistics, up slightly from April’s revised 1.0% decline (previously reported: -0.8% month-on-month). The result was driven by a sharp contraction in the mining and quarrying sub-sector—due to a shutdown at an oil and gas terminal—and a decline in the electricity, gas, steam and air conditioning sub-sector, on warmer-than-average temperatures. In contrast, the manufacturing grew following several months in contractionary territory, while the water supply, sewerage and waste management sub-sector also expanded month-on-month.

Industrial production increased 0.8% year-on-year in May, down from April’s revised 1.6% increase (previously reported: +1.8% year-on-year). Annual average growth in industrial production was unchanged at 2.1% in May.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 1.7% in 2018 and 1.3% in 2019.

Author:, Economist

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United Kingdom Industry Chart

UnitedKingdom Industry May 2018

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

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