UK industrial production unexpectedly drops in AugustStaff Writer | October 7, 2016
UK industrial production unexpectedly declined in August, while manufacturing production rose less than expected, according to data from the Office for National Statistics.
Britain Industrial production fell 0.4%
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%. ■