• UK industrial production showed a record fall in April

Market news

12 June 2020

UK industrial production showed a record fall in April

According to the report from Office for National Statistics, production output fell by a record 20.3% between March 2020 and April 2020. Economists had expected a 15.0% decrease. Manufacturing providing the largest downward contribution, falling by a record 24.3%; there were also falls from mining and quarrying (12.2%), electricity and gas (9.5%) and water and waste (5.3%). 

The monthly decrease of 24.3% in manufacturing output was led by transport equipment, which fell by a record 50.2%, with motor vehicles, trailers and semi-trailers falling by a record 90.3%; of the 13 subsectors, 12 displayed downward contributions.

Total production output decreased by 9.5% for the three months to April 2020, compared with the three months to January 2020; this was led by manufacturing output, which fell by 10.5%.

The three-monthly fall in manufacturing is because of widespread weakness, with 12 of the 13 subsectors providing downward contributions; this was led by transport equipment, which fell by 28.3%.

For the three months to April 2020, production output decreased by 11.9%, compared with the three months to April 2019; this was led by a fall in manufacturing of 14.0% where 12 of the 13 subsectors displayed downward contributions.

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.