United Kingdom: Industrial production plunges in April on temporary factors
June 10, 2019
Industrial production fell 2.7% in April over the prior month according to the Office for National Statistics, contrasting March’s 0.7% increase. April’s figure was driven by sharp contractions in the manufacturing, and mining and quarrying subsectors, while the electricity, gas, steam and air conditioning, and water supply subsectors expanded over the previous month. Industrial production decreased 1.0% in annual terms in April, contrasting March’s 1.3% rise.
Weakness in manufacturing stemmed from planned shutdowns at car plants and an easing impact from stockpiling—which had spurred the subsector in Q1—while lower oil and gas output hurt the mining and quarrying subsector.
Author: Oliver Reynolds, Economist