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Financial News: UK Industrial Output Growth Improves In November

UK Industrial Output Growth Improves In November

01/10/2018 - 04:50:00 (RTTNews)

(RTTNews) - UK industrial production growth doubled in November, figures from the Office for National Statistics showed Wednesday.

Industrial output climbed 0.4 percent month-on-month, faster than the 0.2 percent increase seen in October. The rate came in line with expectations.

At the same time, manufacturing grew 0.4 percent after rising 0.3 percent a month ago. Output was forecast to gain again by 0.3 percent.

On a yearly basis, growth in industrial output slowed to 2.5 percent from 4.3 percent in October. Nonetheless, the pace exceeded the expected rate of 1.8 percent.

Likewise, manufacturing output advanced 3.5 percent following a 4.7 percent rise seen a month ago. Economists had forecast 2.8 percent increase.

In a separate communique, the ONS said construction output grew 0.4 percent on a monthly basis in November. The expansion occurred due to increases in both repair and maintenance, and all new work.

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