United Kingdom Industry August 2016

United Kingdom

United Kingdom: Industry deteriorates in August

October 8, 2016

In August, industrial production contracted 0.4% over the previous month in seasonally-adjusted terms, which contrasted the 0.1% increase recorded in July. The monthly deterioration reflected a contraction in the mining and quarrying sector as well as in the oil and gas sector. Conversely, the manufacturing sector expanded 0.2%, which contrasted the 0.9% decrease observed in the previous month.

Industrial production expanded 0.7% over the same month last year in August, which was well down from the 2.1% increase seen in July and marked the lowest reading in five months. Annual average growth in industrial production inched down from 1.1% in July to 1.0% in August.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 0.2% in 2016, which is up 0.1 percentage points over the previous month’s forecast. For 2017, the panel expects that industrial production will increase 0.2%.

Author:, Senior Economist

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United Kingdom Industry Chart

United Kingdom Industry August 2016

Note: Month-on-month seasonally adjusted and year-on-year variation in %.
Source: Office for National Statistics (ONS).

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