UK industrial production unexpectedly drops in August
Industrial production fell 0.4% on the month versus expectations of a 0.1% increase. The ONS highlighted drops in two of the four main sectors, with the largest contribution from mining and quarrying, which slid 3.7%.
On the year, it rose 0.7%, which was less than the 1.3% jump forecast. There were increases in two of the four main sectors, with the biggest contribution coming from water supply, sewerage and waste management output, which was up 7%.
Meanwhile, manufacturing production was up 0.2% on the month compared to expectations of a 0.4% increase. It rose 0.5% on the year, missing expectations of a 0.8% gain. Other manufacturing and repair were the biggest contributors to growth, up 5.9%.
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