United Kingdom: Industrial output rebounds amid strong manufacturing growth
January 13, 2011
In November, industrial production expanded 0.4% over the previous month in seasonally adjusted terms. The print contrasted the 0.1% contraction recorded in October (previously reported: +0.4% month-on-month) and was in line with market expectations. On an annual basis, industrial production grew 3.3% (October: +3.5% year-on-year). The monthly expansion was the result of stronger-than-expected manufacturing output, which mirrored the previous month's 0.6% increase, but exceeded market expectations of a 0.4% expansion. In addition, the figure benefited from a slower contraction in the mining and quarrying sector (October: -3.9% mom; November: -0.6% mom), which continued to reflect a contraction in oil and gas extraction. Finally, electricity, gas and water supply improved, expanding 0.3% (October: -0.2% mom).