United Kingdom Industrial Production Mom
Jan 31, 2023
Apr 13, 2023
Time to Release
20 Days 16 Hours
|0.08 %||1968-2023||Office for National Statistics|
In the United Kingdom, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector and accounts for 70 percent of total production. The biggest segments within Manufacturing are: Food, drink and tobacco (11 percent of total production); transport equipment (9 percent); basic metals (8 percent); other manufacturing and repair (6 percent); pharmaceutical products and preparations (6 percent); and rubber and plastic products and non-metallic mineral products (6 percent). Mining and quarrying account for 12 percent of production, as oil and gas extraction accounts for 10 percent. Electricity, gas, steam and air conditioning account for 11 percent of total output and water supply, sewerage and waste management account for 8 percent.
Industrial production in the UK fell 0.3% month-on-month in January 2023, shifting from a 0.3% growth in December and slightly more than market forecasts of a 0.1% drop. It was the first contraction since August 2022, as output decreased for manufacturing (0.4% vs 0% in December) and mining & quarrying (-2.2% vs -4.6%). In addition, production rose at a softer rate for both electricity, gas, steam & air conditioning (0.5% vs 5.2%) and water supply (0.6% vs 0.7%). On a yearly basis, industrial output contracted 4.3%, slightly more than market estimates and December’s fall of 4%.
United Kingdom Industrial Production Mom History
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