United Kingdom: Industrial production shrinks in November
Industrial production fell 1.2% in November compared to the prior month, contrasting October’s revised 0.4% expansion (previously reported: +0.1% month-on-month). November’s figure was driven by contractions in the manufacturing and water supply subsectors. In annual terms, industrial production fell 1.6% in November, following October’s revised 0.6% drop (previously reported: -1.3% year-on-year).
Looking ahead, while our panelists see industrial production recovering somewhat in 2020, it is likely to remain sluggish, held back by uncertainty over the UK’s future trading relationship with the EU and a tough external environment.