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Financial News: UK Industrial Output Recovers In June

UK Industrial Output Recovers In June

08/10/2018 - 05:53:00 (RTTNews)

(RTTNews) - UK industrial production expanded in June after falling for three straight months, data from the Office for National Statistics showed Friday.

Industrial production climbed 0.4 percent month-on-month, reversing a 0.2 percent fall in May. This was the first increase in four months. Output was expected to climb 0.3 percent.

On the other hand, manufacturing rose at a slower pace of 0.4 percent after gaining 0.6 percent in May. Economists had forecast a 0.3 percent rise for June.

On a yearly basis, growth in industrial output slowed slightly to 1.1 percent from 1.2 percent in May. At the same time, manufacturing output growth held steady at 1.5 percent.

Economists had forecast industrial output to climb 0.7 percent and manufacturing to rise 1 percent in June.

According to monthly GDP estimate, the economy grew only 0.1 percent in June, slower than the 0.3 percent rise seen in May.

The index of services remained flat in June, while farm output contracted 0.2 percent in June. At the same time, growth in construction came in at 1.4 percent, but slower than the 2.9 percent increase in May.

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