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.
Author: Dirina Mançellari, Senior Economist