UK industrial production falls, manufacturing output strengthensStaff Writer | November 8, 2016
UK industrial production surprisingly dropped in September but manufacturing output was unexpectedly stronger.
Britain The Office for National Statistics:
Compared to last year, manufacturing output surprisingly rose 0.2% when economists had expected a 0.1% fall after the 0.5% year-on-year rise in August.
Industrial production as a whole was down 0.4% on the previous month, for the second consecutive month, versus the consensus estimate of a flat reading.
This was mainly due to a fall in oil and gas extraction from the North Sea maintenance work, plus a drop in mining and quarrying activity.
On a yearly basis, industrial production was up 0.3%, short of the 0.8% expected and down from the previous month's 0.7%. ■