UK manufacturing output falls 0.7% in October

The UK’s industrial output fell 0.7% in October, its fastest fall for six months, according to the Office of National Statistics (ONS).UK manufacturing output falls 0.7% in OctoberCompared with the same month in 2010, output was 1.7% lower, the biggest annual fall since April.

Manufacturing output also fell 0.7% in October, the biggest monthly drop since April and three times the fall forecast by analysts.

The ONS said the fall reflected broader falls across the manufacturing sector.

It added there was a sharp drop in energy production due to the warmest October weather in five years.

Electricity and gas output dropped by 4.9% in October, its biggest fall since April.

Analysts said the data indicated a slowdown in the wider economy.

It’s a grim start to the fourth quarter. It tends to bear out our view that the UK is going to double dip and will re-enter recession. The main question is when, and these figures seem to suggest it could be sooner rather than later.

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December 14, 2011 · Home Based Jobs · Comments Closed
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