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UK manufacturing output sank in July

Staff Writer | September 8, 2016
Manufacturers pulled back more than expected after the Brexit vote, although economists were wary of drawing too many conclusions from the data just yet.
UK manufacturing
Britain   Total output expanded by 0.1% month-on-month
Industrial production in fact grew more quickly than expected in July as a sharp jump in mining production more than offset a surprisingly weak performance from manufacturers in the wake of the Brexit vote.

Total output expanded by 0.1% month-on-month, according to the Office for National Statistics, besting forecasts for a drop of 0.2%.

Manufacturing production on the other hand sank 0.9% over the month its biggest fall in a year and third consecutive monthly decline.

Acting as an offset, the always volatile mining sector boosted production by 4.7% month-on-month, with output from energy and water supply rising by 0.4% and 0.7%, respectively.

Overall, the data pointed to Britain's gross domestic product stagnating in the third quarter or, possibly, shrinking slightly, according to economists.


 

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