Industrial production in the United Kingdom edged up 0.1% year-on-year in February of 2019, recovering from a downwardly revised 0.3% fall in the previous month. It was the first gain in industrial activity since August of 2018, as output rebounded for manufacturing (0.6% from -0.7% in January), namely electrical equipment (3.1% from -1.1%). Also, production advanced faster for textiles, wearing apparel & leather products (8.0% from 3.2%); food, beverages & tobacco (4.1% from 3.5%); coke & refined petroleum products (9.4% from 5.1%); rubber & plastic products (5.6% from 2.4%) and computer, electronic & optical products (4.8% from 1%). In addition, production advanced faster for mining & quarrying (4.9% from 2.9%). On the other hand, output fell for electricity, gas, steam & air conditioning supply (-4.9% from a flat reading) and water supply (-0.8% from 0.2%). On a monthly basis, industrial output went up 0.6%, after an upwardly revised 0.7% gain in January. Industrial Production in the United Kingdom averaged 0.85 percent from 1969 until 2019, reaching an all time high of 22.70 percent in February of 1973 and a record low of -11.90 percent in December of 1980.
Industrial Production in the United Kingdom is expected to be 0.90 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 1.50 in 12 months time. In the long-term, the United Kingdom Industrial Production is projected to trend around 2.20 percent in 2020, according to our econometric models.