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Financial News: UK Industrial Production Falls Unexpectedly In April

UK Industrial Production Falls Unexpectedly In April

06/11/2018 - 05:04:00 (RTTNews)

(RTTNews) - UK industrial production decreased unexpectedly at the start of the second quarter, figures from the Office for National Statistics showed Monday.

Industrial production fell 0.8 percent month-over-month in April, reversing a 0.1 percent rise in March. It was the first decline in four months.

Meanwhile, economists had expected a stable 0.1 percent increase for the month.

On a yearly basis, industrial production growth eased to 1.8 percent in April from 2.9 percent a month ago. The expected growth rate was 2.7 percent.

Manufacturing production dropped 1.4 percent monthly in April, following a 0.1 percent contraction in March. In contrast, output was expected to recover by 0.3 percent.

Moreover, this was the largest fall since October 2012, when it slid by 1.8 percent.

Annually, growth in manufacturing production slowed to 1.4 percent from 2.9 percent in March.

Another report from the statistical office showed that construction output expanded 0.5 percent month-on-month in April, reversing a 2.3 percent fall in the preceding month. That was below the 2.2 percent rise economists had forecast.

On a yearly basis, construction output fell at a slower pace of 3.3 percent in April, after a 4.9 percent decline in March.

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