Industrial Production in the United Kingdom decreased 20 percent year-on-year in May of 2020, following a record 23.8 percent plunge in April and compared to market expectations of a 20.8 percent fall. In the end of May, firms returned to work after the coronavirus lockdown, as businesses managed to operate while adhering to social distancing measures. Manufacturing was down 22.8 percent; electricity, gas, steam and air conditioning 16.8 percent; mining and quarrying 11.7 percent; oil and gas extraction 10.2 percent; and water supply, sewerage and waste management fell 6.3 percent.
Industrial Production in the United Kingdom averaged 0.77 percent from 1969 until 2020, reaching an all time high of 22.60 percent in February of 1973 and a record low of -23.80 percent in April of 2020. This page provides the latest reported value for - United Kingdom Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Office for National Statistics
Industrial Production in the United Kingdom is expected to be -6.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in the United Kingdom to stand at 16.00 in 12 months time. In the long-term, the United Kingdom Industrial Production is projected to trend around 5.00 percent in 2021 and 2.00 percent in 2022, according to our econometric models.