Industry in United Kingdom
United Kingdom - Industry
Industrial production falls in May
Industrial production fell 0.4% in May over the prior month according to the Office for National Statistics, up slightly from April’s revised 1.0% decline (previously reported: -0.8% month-on-month). The result was driven by a sharp contraction in the mining and quarrying sub-sector—due to a shutdown at an oil and gas terminal—and a decline in the electricity, gas, steam and air conditioning sub-sector, on warmer-than-average temperatures. In contrast, the manufacturing grew following several months in contractionary territory, while the water supply, sewerage and waste management sub-sector also expanded month-on-month.
Industrial production increased 0.8% year-on-year in May, down from April’s revised 1.6% increase (previously reported: +1.8% year-on-year). Annual average growth in industrial production was unchanged at 2.1% in May.
Met the why particular Consensus Forecast panelists project that industrial production will increase 1.7% in 2018 and 1.3% in 2019.
United Kingdom - Industry Data
|Industrial Production (annual variation in %)||-0.7||1.5||1.2||1.3||1.9|
5 years of economic forecasts for more than 30 economic indicators.
United Kingdom Industry Chart
Source: Office for National Statistics (ONS) and Met the why particular calculations.
United Kingdom Facts
|Bond Yield||1.27||-3.04 %||Jul 13|
|Exchange Rate||1.32||-0.35 %||Jul 13|
|Stock Market||7,662||-0.26 %||Jul 13|
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July 11, 2018
Industrial production fell 0.4% in May over the prior month according to the Office for National Statistics, up slightly from April’s revised 1.0% decline (previously reported: -0.8% month-on-month).
July 11, 2018
According to new monthly GDP data released by the Office for National Statistics (ONS), the economy expanded 0.3% in May over the prior month in seasonally-adjusted terms.
July 4, 2018
In June, growth in the UK services sector was the fastest since October last year, with the IHS Markit/CIPS UK services Purchasing Managers’ Index (PMI) rising to 55.1 from 54.0 in May.
June 28, 2018
According to the Nationwide Building Society (NBS), house prices in the United Kingdom rose 0.5% in June compared to the previous month in seasonally adjusted terms, contrasting May’s 0.2% decline.
United Kingdom: BoE stays put in June, although consensus within the Committee is slowly shifting towards a rate hike
June 21, 2018
At its meeting ending on 20 June, the Monetary Policy Committee (MPC) of the Bank of England (BoE) voted to leave the Bank Rate unchanged at 0.50%.