Industry in United Kingdom
United Kingdom - Industry
Industrial production picks up in June
Industrial production increased 0.4% in June over the prior month according to the Office for National Statistics, contrasting May’s 0.2% decline (previously reported: -0.4% month-on-month). The result was driven by growth in the manufacturing; electricity, gas, steam and air conditioning; and water supply, sewerage and waste management sub-sectors. In contrast, the mining and quarrying sub-sector contracted month-on-month.
Industrial production increased 1.1% in annual terms in June, down from May’s revised 1.2% increase (previously reported: +0.8% year-on-year). Annual average growth in industrial production was unchanged at 2.1% in June.
FocusEconomics Consensus Forecast panelists project that industrial production will increase 1.5% in 2018 and 1.1% in 2019.
United Kingdom - Industry Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Industrial Production (annual variation in %) | -0.7 | 1.5 | 1.2 | 1.3 | 1.9 |
United Kingdom Industry Chart
Source: Office for National Statistics (ONS) and FocusEconomics calculations.
United Kingdom Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.22 | -3.04 % | Aug 15 |
| Exchange Rate | 1.27 | -0.35 % | Aug 15 |
| Stock Market | 7,498 | -0.26 % | Aug 15 |
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Economic News
United Kingdom: Unemployment rate hits fresh multi-decade low in April-June, but wage growth continues to moderate
August 14, 2018
In the April-June period the unemployment rate fell to 4.0%, down from 4.2% in March-May and marking the lowest rate since 1975.
United Kingdom: Industrial production picks up in June
August 10, 2018
Industrial production increased 0.4% in June over the prior month according to the Office for National Statistics, contrasting May’s 0.2% decline (previously reported: -0.4% month-on-month).
United Kingdom: Economic growth accelerates in Q2 but remains modest
August 10, 2018
The economy found its feet in the second quarter of 2018, according to preliminary data released by the Office for National Statistics (ONS) on 10 August.
United Kingdom: Both the services and manufacturing PMIs decrease in July
August 3, 2018
In July, growth in the UK services sector was the slowest since April, with the IHS Markit/CIPS UK services Purchasing Managers’ Index (PMI) falling to 53.5 from 55.1 in the previous month.
United Kingdom: BoE hikes rates in August
August 2, 2018
At its meeting ending on 1 August, the Monetary Policy Committee (MPC) of the Bank of England (BoE) voted unanimously to raise the Bank Rate from 0.50% to 0.75%.
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