Industrial production in the UK fell 0.6 percent from a month earlier in August 2019, after a 0.1 percent gain in the previous month and compared with market expectations of a 0.1 percent decline. Manufacturing output dropped (-0.7 percent from 0.3 percent in July), led by basic pharmaceutical products (-4.7 percent from 4.1 percent); coke & refined petroleum products (-5.7 percent from 2.4 percent); textiles, wearing apparel & leather products (-1.7 percent from 0.8 percent); computer, electronic and optical products (-1.8 percent from 1 percent); and basic metals & metal products (-0.8 percent from 1.1 percent). Meanwhile, production went down at a softer pace for electricity, gas, steam & air conditioning (-0.7 percent from -1.4 percent) and mining and quarrying (-1 percent from -1.2 percent). On a yearly basis, industrial output declined 1.8 percent, following an upwardly revised 1.1 percent fall in the prior month. Industrial Production Mom in the United Kingdom averaged 0.08 percent from 1968 until 2019, reaching an all time high of 9.70 percent in March of 1972 and a record low of -7.80 percent in February of 1972.
Industrial Production Mom in the United Kingdom is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production Mom in the United Kingdom to stand at 0.50 in 12 months time. In the long-term, the United Kingdom Industrial Production MoM is projected to trend around 0.40 percent in 2020, according to our econometric models.