United Kingdom: Industry drops in November
December 12, 2015
In November, industrial production contracted 0.7% in seasonally-adjusted terms over the previous month, which contrasted the flat reading seen in October and came in below market expectations of no change. Manufacturing decreased 0.4% in November, which matched the previous month’s drop. The monthly decrease reflected contractions in all the categories, with electricity, gas, steam and air conditioning recording the steepest fall.
Industrial production grew 0.9% over the same month of the previous year, which was below the 1.7% increase recorded in October. Annual average growth in industrial production inched down from 1.3% in October to 1.2% in November.
Author: Dirina Mançellari, Senior Economist