United Kingdom: Industry contracts in September
November 9, 2015
In September, industrial production contracted 0.2% in seasonally-adjusted terms over the previous month, which contrasted the 0.9% growth recorded in August. September’s figure overshot the 0.1% decrease expected by the markets. Manufacturing increased 0.8% in September, which doubled the previous month’s 0.4% increase and marked the fastest expansion since April 2014. Moreover, electricity, gas and steam expanded 0.6%, which matched August’s expansion. Finally, mining and quarrying deteriorated and contracted 4.9% (August: +6.2% year-on-year).
In annual terms, industrial production grew 1.1% over the same month last year, which was below the 1.8% increase recorded in August. annual average growth in industrial production inched up from 1.0% in August to 1.1% in September.
Author: Dirina Mançellari, Senior Economist