United Kingdom: Industrial production stalls
August 9, 2011
In June, industrial production remained flat over the previous month, below both the 0.8% increase tallied in May and market expectations of a 0.4% increase. In annual terms, industrial output dropped 0.3% over the same month last year (May: -0.9% year-on-year). Manufacturing production contracted 0.4% over the previous month in June after expanding 1.8% in May and came in well below market expectations of a moderate 0.3% increase. As a consequence of meagre growth, the trend continued on its downward trajectory, with average growth in industrial production edging down from 2.0% in May to 1.9% in June.