Industrial production in the United Kingdom decreased by 0.5 percent from the previous month in December of 2018, following a downwardly revised 0.3 percent fall in November and against market expectations of a 0.2 percent gain. It was the fifth consecutive decline in industrial activity, as output continued to fell for manufacturing (-0.7 percent from -0.1 percent in November), namely coke & refined petroleum products (-0.2 percent, the same as in November): basic metals & metal products (-1 percent from -3.6 percent); electrical equipment (-0.4 percent from -1.6 percent) and machinery & equipment nes (-0.3 percent from -1 percent); and electricity, gas, steam & air conditioning supply (-0.4 percent from -0.9 percent). Meanwhile, production rebounded for mining & quarrying (0.5 percent from -2.2 percent) and rose faster for water supply (1 percent from 0.1 percent). On a yearly basis, industrial output dropped 0.9 percent. Industrial Production Mom in the United Kingdom averaged 0.07 percent from 1968 until 2018, reaching an all time high of 9.90 percent in March of 1972 and a record low of -8 percent in February of 1972.
Industrial Production Mom in the United Kingdom is expected to be 0.30 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 0.40 in 12 months time. In the long-term, the United Kingdom Industrial Production MoM is projected to trend around 0.50 percent in 2020, according to our econometric models.