United Kingdom: Industrial output growth gains steam in October
Industrial production expanded 1.3% month-on-month in seasonally-adjusted terms in October (September: +0.5% mom). The figure was largely driven by faster growth in manufacturing production. In contrast, electricity, gas, steam and air conditioning supply output decelerated.
On an annual basis, factory output plunged 5.5% in October (September: -6.3% yoy), the best result since February. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 8.1%, down from September’s minus 7.7% reading.