United Kingdom: Industrial production ticks up in December
February 11, 2020
Industrial production rose 0.1% in December compared to the prior month, contrasting November’s revised 1.1% contraction (previously reported: -1.2% month-on-month). December’s figure was driven by a return to growth in the manufacturing sector.
In annual terms, industrial production fell 1.8% in December, following November’s revised 2.5% drop (previously reported: -1.6% year-on-year). December’s reading rounded off a weak 2019, which saw industrial output fall 1.3%, weighed on by weak external momentum and Brexit uncertainty.
Looking ahead, while our panelists see industrial production recovering somewhat in 2020, it is likely to remain sluggish, held back by uncertainty over the UK’s future trading relationship with the EU and a tough external environment.
Author: Oliver Reynolds, Economist