UK industrial production December 2017 -1.3% vs -0.9% exp m/m

by | February 9th, 2018, 09:30:18 | Economic Data, UK

UK economics

December 2017 UK industrial production and construction output 9 February 2018

  • Prior 0.4%
  • 0.0% vs 0.3% exp y/y. Prior 2.5%
  • Manufacturing production 0.3% vs 0.3% exp m/m. Prior 0.4%
  • 1.4% vs 1.2% exp y/y. Prior 3.5%
  • Construction output 1.6% vs 0.2% exp m/m. Prior 0.4%
  • -0.2% vs -1.4% exp y/y. Prior 0.4%

ONS Notes;

  • No impact to Q4 GDP from industrial and construction data
  • Fall in production led by mining & quarrying, offset by rise in manufacturing and energy supply
  • Mining and quarrying fell 14.3% following last month’s gain of 6.3% on Forties pipeline damage
  • Manufacturing’s gain m/m came via metals , transport equipment
  • Total production output rose 0.5% in Q4 17, revised from prelim 0.6%
  • Auto production m/m rose 0.7% in Dec but fell 1.7% 3M to Dec 2017
  • Driven by manufacturing, production output increased by 2.1% in 2017
  • Trade deficit widened in Q4 17, on an increase in oil imports
  • Construction fell 0.7% in Q4, the third consecutive quarterly drop
  • Quarterly decline in construction driven by drop in private commercial new work and non-housing repair and maintenance

The industrial side doesn’t look too good but manufacturing holding up is the better news. GBP largely unchanged with GBPUSD trading at 1.3954.

 

Ryan Littlestone
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