United Kingdom Industry October 2016

United Kingdom

United Kingdom: Industrial production falls in October

December 7, 2016

Industrial production contracted 1.3% in October over the previous month, compounding the 0.4% drop recorded in September and marking the largest monthly decline in over four years. The drop was driven by a fall in the mining and quarrying sectors due to ongoing maintenance reducing production in the oil and gas extraction industry.

Industrial production also fell 1.1% over the same month last year in October, contrasting with the 0.4% increase seen in September. Annual average growth in industrial production dipped from 0.9% in September to 0.6% in October.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 1.1% in 2016, which is up 0.1 percentage points from the previous month’s forecast. For 2017, the panel expects industrial production to increase 0.2%.

Author:, Senior Economist

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United Kingdom Industry Chart

United Kingdom Industry October 2016

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

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