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UK industrial output declines 0.8% in 3M

UK industrial output declines 0.8% in 3M

Mubasher: UK industrial production growth dipped 0.8% in the three months ended November 2018, compared with the three months ended August, while output declined month-on-month, data released on Friday showed.

Total manufacturing output shrank 0.8% between September and November 2018, with 10 out of 13 sectors dropping, as the biggest downward contribution came from a 1.1% decline in the production of transport equipment, the UK’s Office for National Statistics (ONS) said.

Total production output fell 0.9% in the three months to November 2018 compared with the same three months of the prior year.

Total production output edged down 0.4% last November, compared with October, as manufacturing fell 0.3%, with falls of 1.1% in electricity and gas and 1.3% in mining and quarrying.

The monthly decline in manufacturing production was driven by drops in 8 out of 13 segments, with the largest downward contribution coming from a 3.6% fall in basic metals and metal products.

By 9:58 am GMT, the GBP/USD pair went down 0.08% to $1.2737, while the EUR/GBP pair rose 0.28% to GBP 0.9043.