United Kingdom: Manufacturing output falls for third month in a row
October 11, 2011
In August, industrial production increased a seasonally adjusted 0.2% over the previous month, which contrasted both the 0.4% decline observed in July and market expectations that had industrial output contracting 0.2% in August. Compared to the same month last year, industrial output dropped 1.0% (July: -0.9% year-on-year). That said, in August, manufacturing production fell 0.3% over the previous month, which represented its third consecutive month of decline. Market participants had expected manufacturing output to remain flat in August. As a consequence of weak industrial production figures, the downward trend continued, with annual average growth in industrial production falling from 1.5% in July to 1.0% in August.