United Kingdom: Industry rebounds in August
October 7, 2015
In August, industrial production rose 1.0% over the previous month in seasonally-adjusted terms, which marked a rebound from the 0.3% drop recorded in July and was the highest reading in 18 months. August’s figure overshot the 0.3% increase expected by the markets. Manufacturing increased 0.5% in August, which contrasted the 0.7% decrease seen in July and marked the highest reading in five months. Moreover, electricity, gas and steam expanded 0.3%, which was up from the flat reading seen in July. Finally, mining and quarrying improved and grew a strong 6.0% (July: +0.7% year-on-year).
In annual terms, industrial production expanded 1.9% in August over the same month last year, which was up from the 0.7% increase recorded in July and marked the highest reading in 16 months. Meanwhile, annual average growth in industrial production was stable at 1.0% in August.
Author: Dirina Mançellari, Senior Economist