Industry in United Kingdom
United Kingdom - Industry
Decline in industrial activity softens in March
Industrial output slid 0.2% month-on-month in seasonally-adjusted terms in March (February: -0.3% mom). March's smaller contraction was largely due to a rebound in mining and quarrying output, which partially offset declines in manufacturing and utilities output.
On an annual basis, factory output grew 0.7% in March, which was below February’s 2.1% expansion. Accordingly, the trend pointed down, with the annual average growth of industrial production coming in at 6.8%, down from February's 7.0%.
FocusEconomics Consensus Forecast panelists project that industrial production will increase 2.4% in 2022, which is down 0.2 percentage points from last month’s forecast, and 1.7% in 2023.
United Kingdom - Industry Data
|Industrial Production (annual variation in %)||1.0||1.1||1.7||0.8||-1.4|
5 years of economic forecasts for more than 30 economic indicators.
United Kingdom Industry Chart
Source: Office for National Statistics (ONS) and FocusEconomics calculations.
United Kingdom Facts
|Bond Yield||0.83||-3.04 %||Jan 01|
|Exchange Rate||1.33||-0.35 %||Jan 01|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
November 18, 2022
Consumer confidence rose to minus 44.0 in November from October's minus 47.0.
November 16, 2022
Inflation came in at 11.1% in October, up from September’s 10.1% and above market expectations.
November 15, 2022
According to the ONS, in July–September the unemployment rate registered 3.6%.
November 11, 2022
GDP contracted 0.2% on a seasonally adjusted quarter-on-quarter basis in Q3 (Q2: +0.2% s.a.
November 3, 2022
On 3 November, the Bank of England (BoE) increased the bank rate from 2.25% to 3.00%, marking the eighth successive rate hike.