United Kingdom: Industrial output falls unexpectedly in October
December 7, 2010
In October, industrial production contracted 0.2% over the previous month in seasonally adjusted terms, which contrasted both the previous month's 0.4% increase and market expectations of a 0.3% increase. In annual terms, growth moderated to 3.3% in October, down from September's 3.8% increase. The weaker monthly reading was the result of a sharp slowdown in mining and quarrying (September: +1.1% month-on-month; October: -4.2% mom) as well as a fall in electricity, gas and water supply (September: +1.3% month-on-month; October: -1.0% mom). In contrast, manufacturing production accelerated to a 0.6% expansion in October (September: +0.2% month-on-month), the biggest monthly rise since March.