United Kingdom: Industry drops in December
February 17, 2016
In December, industrial production contracted 1.1% in seasonally-adjusted terms over the previous month, which followed the 0.8% drop seen in November and undershot the 0.1% drop the markets had expected. Manufacturing decreased 0.2% in December, which was slightly up from the previous month’s 0.3% drop. The monthly decrease reflected contractions in all the categories, with oil, gas and electricity as well as mining and quarrying recording the steepest fall.
Industrial production contracted 0.4% over the same month of the previous year, which contrasted the 0.7% increase recorded in November. Annual average growth in industrial production inched down from 1.1% in November to 1.0% in December.
Author: Dirina Mançellari, Senior Economist