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.
Author: Dirina Mançellari, Senior Economist