United Kingdom: Industrial production ticks up in November
January 10, 2018
Industrial production increased 0.4% in November over the prior month, up from October’s revised 0.2% uptick (previously reported: +0.0% month-on-month) and slightly overshooting analysts’ expectations. The result was driven by growth in the manufacturing and electricity, gas, steam and air conditioning sub-sectors, while the mining and quarrying, and water supply, sewerage and waste management sub-sectors contracted. November’s cold snap—which came after unseasonably warm weather in October—was behind the solid performance of the electricity, gas, steam and air conditioning sub-sector.
Industrial production increased 2.5% year-on-year in November, down from October’s revised 4.3% rise (previously reported: +3.6% yoy). Annual average growth in industrial production was steady at 2.4% in November.
UK Industrial Production Forecast
FocusEconomics Consensus Forecast panelists project that industrial production will increase 1.4% in 2018 and 1.0% in 2019.
Author: Oliver Reynolds, Economist