• UK industrial production fell more than forecast in August

Market news

10 October 2019

UK industrial production fell more than forecast in August

According to the report from Office for National Statistics, total production output fell by 0.4% for the three months to August 2019, compared with the three months to May 2019; falls in manufacturing (1.1%) and mining and quarrying (2.3%) were partially offset by rises in electricity and gas (3.2%) and water and waste (1.6%). The three-monthly fall in manufacturing of 1.1% is because of widespread weakness with 11 of the 13 subsectors decreasing; this was led by food, beverages and tobacco (2.0%) and computer, electronic and optical products (3.5%).

Production output fell by 0.6% between July 2019 and August 2019. Economists had expected a 0.1% decrease. Manufacturing provided the largest downward contribution (0.7%), supported by electricity and gas (0.7%) and mining and quarrying (1.0%). The 0.7% monthly decrease in manufacturing output was widespread with falls in 10 of the 13 subsectors; the largest downward contribution came from a 4.7% fall in basic pharmacutical products.

For the three months to August 2019, production output decreased by 1.3%, compared with the same three months to August 2018; led by a fall in manufacturing of 1.5%.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.