United Kingdom: Industrial production rises in December
February 10, 2017
Industrial production increased 1.1% in December over the previous month, below the 2.0% rise recorded in November (previously reported: +2.1% month-on-month). The uptick was driven by an expansion in the manufacturing sector, with pharmaceuticals, which can be highly volatile, leading the way. In contrast, the water supply, sewerage and waste management sector was flat month-on-month, while the mining and quarrying and the electricity, gas and air conditioning sectors contracted, with the latter likely due to higher temperatures in December.
Industrial production increased 4.3% over the same month of the previous year in December, up from November’s 2.2% rise and marking the largest increase since January 2011. Annual average growth in industrial production picked up from 0.8% in November to 1.2% in December.
Author: Oliver Reynolds, Economist