United Kingdom Industry

United Kingdom

United Kingdom: Industry deteriorates in October

December 9, 2014

In October, industrial production fell 0.1% over the previous month, which contrasted the 0.7% increase recorded in September. October’s figure also contrasted the 0.2% expansion the market had expected.

Manufacturing swung from a 0.6% increase in September to a 0.7% decrease in October, which marked the steepest decrease in five months and contrasted the 0.2% expansion the marked had expected. Mining and quarrying expanded 2.0% in October, which came in below the 3.4% increase observed in the previous month. In addition, growth in the oil and gas extraction sector fell from 4.8% in September to 2.8% in October. Conversely, electricity, gas, steam and air conditioning rebounded from a 3.5% decrease in September to 0.6% increase in October.

In annual terms, industrial production rose 1.1% in October, which was an improvement over the 0.8% increase observed in September. Annual average growth inched down from 1.8% in September to 1.7% in October, and now stands at its lowest level in four months.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 2.4% in 2014, which is unchanged over the previous month’s forecast. For 2015, the panel expects that industrial production will increase 1.7%, which is also unchanged from last month’s estimate.


Author:, Senior Economist

Sample Report

Looking for forecasts related to Industry in United Kingdom? Download a sample report now.

Download

United Kingdom Industry Chart


United Kingdom Industry October 2014

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


United Kingdom Economic News

More news

Search form