United Kingdom Industry

United Kingdom

United Kingdom: Industry rebounds in September

November 6, 2014

In September, industrial production rose 0.6% over the previous month, which contrasted the 0.1% decrease recorded in August. September’s figure overshot market expectations of a 0.4% increase and marked the highest reading since February.

Growth in manufacturing accelerated from 0.2% in August to 0.4% in September, which slightly overshot the 0.3% increase the market had expected. Mining and quarrying expanded 3.8% in August, which contrasted the 1.8% contraction observed in the previous month. In addition, oil and gas extraction rebounded from a 2.5% decrease in August to a 5.2% increase in September, which marked the fastest growth pace in seven months. Electricity, gas, steam and air conditioning decelerated from a 0.8% increase in August to a 4.5% drop in September.

In annual terms, industrial production rose 1.5% in September, which was below August’s 2.2% increase. Annual average growth inched down from 2.6% in August to 2.5% in September.

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 down 0.1 percentage points from last month’s estimate.

Author:, Senior Economist

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United Kingdom Industry Chart

United Kingdom Industry September 2014

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

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