Industry in United Kingdom
United Kingdom - Industry
Industrial activity dips in February
Industrial output fell 0.6% month-on-month in seasonally-adjusted terms in February (January: +0.7% mom). February's figure was partly due to a deterioration in manufacturing production—particularly of transport equipment and chemicals. In addition, electricity, gas, steam and air conditioning supply output weakened.
On an annual basis, factory output rose at a more moderate pace of 1.6% in February (January: +3.1% yoy). Meanwhile, annual average growth of industrial production came in at 6.9%, up from January's 6.5%. As a result, the industrial sector remains 1.9% below its pre-pandemic levels, hampered by global supply constraints, surging input prices and Brexit.
FocusEconomics Consensus Forecast panelists project that industrial production will increase 2.6% in 2022, which is unchanged from last month’s forecast, and 1.9% in 2023.
United Kingdom - Industry Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Industrial Production (annual variation in %) | 1.0 | 1.1 | 1.7 | 0.8 | -1.4 |
United Kingdom Industry Chart
Source: Office for National Statistics (ONS) and FocusEconomics calculations.
United Kingdom Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.83 | -3.04 % | Jan 01 |
| Exchange Rate | 1.33 | -0.35 % | Jan 01 |
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