United Kingdom: Industrial output rebounds in July
Industrial output expanded 1.2% month-on-month in seasonally-adjusted terms in July (June: -0.7% mom). Looking at the details of the release, mining production rebounded strongly in July, manufacturing production flatlined, while utilities supply output declined at a softer rate.
On an annual basis, industrial output increased 3.8% in July, which was significantly below June’s 8.4% expansion. Meanwhile, the trend improved significantly, with the annual average growth of industrial production coming in at plus 3.0% in July, up from June’s 2.2% reading.