Industry in United Kingdom
United Kingdom - Industry
Industrial production contracts for fourth straight month in December
Industrial production decreased 0.5% in December over the prior month according to the Office for National Statistics, down from November’s revised 0.3% fall (previously reported: -0.4% month-on-month). December’s figure was driven by contractions in the manufacturing; and electricity, gas, steam and air conditioning subsectors, while the mining and quarrying and water supply subsectors expanded over the previous month.
Industrial production fell 0.9% in annual terms in December, up slightly from November’s revised 1.3% decline (previously reported: -1.5% year-on-year). Annual average growth in industrial production declined from 0.8% in November to 0.7% in December.
UK Industrial Production Forecast
FocusEconomics Consensus Forecast panelists see the industrial sector remaining weak going forward, and project that industrial production will increase 0.6% in 2019 and 0.9% in 2020.
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 | 1.14 | -3.04 % | Feb 14 |
| Exchange Rate | 1.28 | -0.35 % | Feb 14 |
| Stock Market | 7,197 | -0.26 % | Feb 14 |
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Economic News
United Kingdom: Inflation falls below the Bank of England’s target in January
February 13, 2019
Consumer prices declined 0.8% in January over the previous month, contrasting December’s 0.2% rise.
United Kingdom: Industrial production contracts for fourth straight month in December
February 12, 2019
Industrial production decreased 0.5% in December over the prior month according to the Office for National Statistics, down from November’s revised 0.3% fall (previously reported: -0.4% month-on-month).
United Kingdom: Q4 slump drags down 2018 growth to six-year low
February 11, 2019
Growth decelerated in the fourth quarter of 2018, according to preliminary data released by the Office for National Statistics (ONS) on 11 February.
United Kingdom: BoE leaves rates unchanged, slashes growth forecasts
February 7, 2019
At its meeting ending on 6 February, the Monetary Policy Committee (MPC) of the Bank of England (BoE) voted unanimously to keep the Bank Rate unchanged at 0.75%.
United Kingdom: Service sector stagnates in January; manufacturing firms continue stockpiling
February 5, 2019
The IHS Markit/CIPS UK services Purchasing Managers’ Index (PMI) declined from 51.2 in December to 50.1 in January, an over two-year low.
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