United Kingdom: Industrial production growth slows in August
October 10, 2018
Industrial production increased 0.2% in August over the prior month according to the Office for National Statistics, down from July’s revised 0.4% rise (previously reported: +0.1% month-on-month). August’s figure was driven by expansion in the mining and quarrying; electricity, gas, steam and air conditioning; and water supply sectors, while the manufacturing sector contracted.
Industrial production increased 1.3% in annual terms in August, up from July’s revised 1.0% figure (previously reported: +0.9% yoy). Annual average growth in industrial production was unchanged at 1.7% in August.
UK Industrial Production Forecast
FocusEconomics Consensus Forecast panelists project that industrial production will increase 1.3% in 2018 and 1.0% in 2019.
Author: Oliver Reynolds, Economist