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Financial News: UK Industrial Production Rises At Slower Rate In

UK Industrial Production Rises At Slower Rate In August

10/10/2017 - 05:24:00 (RTTNews)

(RTTNews) - British industrial production growth eased for the second straight month in August, data from the Office for National Statistics showed Tuesday.

Industrial production climbed 0.2 percent month-on-month in August, slower than the 0.3 percent increase seen in July, which was revised up from 0.2 percent. It was the fifth successive monthly rise.

The expansion was largely driven by manufacturing output, which advanced 0.4 percent. Meanwhile, mining and quarrying output fell 2.0 percent.

Year-on-year, industrial production growth improved to 1.6 percent in August from 1.1 percent in July. The expected rate of increase was 0.9 percent. Manufacturing output expanded 2.8 percent annually in August, exceeding economists' forecast for a growth of 1.9 percent.

Another report from ONS showed that construction output rose 0.6 percent in August from July, mainly driven by a 1.7 percent rise in all new work. It was expected remain flat during the month.

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