United Kingdom: Industrial production slips as economic recovery struggles
September 7, 2011
In July, industrial production declined a seasonally adjusted 0.2% over the previous month, contrasting the flat reading tallied in June and market expectations that had industrial output unchanged over June. In annual terms, industrial output dropped 0.7% over the same month last year (June: -0.3% year-on-year). That said, in July, manufacturing production rebounded from a 0.4% decline in June and added 0.1% over the previous month. Market participants had expected manufacturing output to stall in July. As a consequence of weak industrial production figures, the trend continued its downward trajectory, with annual average growth in industrial production edging down from 1.9% in June to 1.7% in July.