United Kingdom: Industrial output growth speeds up in August
Industrial output rose 0.8% month-on-month in seasonally-adjusted terms in August (July: +0.2% mom). The improvement was largely driven by a recovery in manufacturing output. In contrast, electricity, gas, steam and air conditioning supply production fell at a sharper pace compared to July.
On an annual basis, industrial output rose at a softer pace of 3.7% in August (July: +4.4% yoy), the worst result since March. Meanwhile, annual average industrial production growth rose to 4.4% in August (July: +3.7%), signaling an improving trend in the industrial sector.