United Kingdom Industry

United Kingdom

United Kingdom: Industry improves in March

May 12, 2015

In March, industrial production rose 0.5% over the previous month, which followed the 0.1% increase observed in February and marked a six-month high. March’s figure came in above the flat growth the market had expected.

Growth in manufacturing slightly decelerated from 0.5% in February to 0.4% in March. Mining and quarrying expanded 2.6% in March, which contrasted the 2.6% decrease tallied in the previous month. In addition, the oil and gas extraction sector expanded 4.9% (February: -3.7% month-on-month). Finally, electricity, gas, steam and air conditioning contracted 1.1%, which was a deterioration over the 1.4% increase seen in February.

In annual terms, industrial production rose 0.7% in March, which was up from the 0.1% increase observed in February. However, annual average growth in industrial production fell from 1.4% in February to 1.2% in March, hitting an 11-month low.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 1.6% in 2015, which is unchanged over the previous month’s forecast. For 2016, the panel expects that industrial production also will increase 1.6%.


Author:, Senior Economist

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United Kingdom Industry Chart


United Kingdom Industry March 2015

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


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