Economy

British industrial output jumps in September

British industrial output jumps in September

Industrial output and manufacturing output in the United Kingdom both rose by 0.7% in September - the fastest growth for each sector since December a year ago.

That leaves construction output down 0.9% in the third quarter following a 0.5% decline in the second quarter.

The reports round off a quarter which saw economic growth pick up slightly to 0.4 percent, a level which remains below its pre-Brexit referendum average as political uncertainty and inflation crimp consumer spending.

Industrial production rose 0.7 per cent in September, ahead of expectations of a 0.3 per cent rise. Ten out of 13 factory sectors recorded increases.

Year-on-year, construction output rose 1.1%, short of the 2.2% forecast and down from a revised 3.9% rise for August.

The increase in industrial production was better than analysts' forecasts, and the fastest growth seen since December a year ago.

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The overall United Kingdom economy is estimated by the ONS to have grown by 0.4 per cent, up from the 0.3 per cent rate in the second quarter.

A similar pattern emerged in PMI surveys for the start of the current quarter, with manufacturing showing healthy growth in October and construction struggling to avoid falling back into contraction.

In the three months to September 2017, the total United Kingdom trade deficit widened by £3bn to £9.5bn, mainly due to a increased imports, including of machinery, non-monetary gold and fuels. The ONS estimated the effect to be about 0.6 percent.

The ONS also reported that the UK's trade in goods deficit was £11.25bn in the month, better than the £12.8bn analysts had pencilled in, with exports rising faster than imports.

While the trade gap also shrank by £700 million to £2.75 billion over the period, the United Kingdom construction industry endured a torrid time, falling by a deeper-than-expected 1.6% between August and September as new work sank by 1.3%.


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