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UK industrial production beats estimates in Sept

by ChemOrbis Editorial Team - content@chemorbis.com
  • 06/11/2014 (16:46)
According to data from the Office for National Statistics, UK industrial production increased more than expected in September. The country’s factory output rose 0.6% on a monthly basis in September after posting a decrease of 0.1% in August. Higher production in oil and transport equipment were cited as the main factors behind the country’s stronger production results. Initial forecast called for a 0.4% gain in a survey by Bloomberg.

The country’s manufacturing rose 0.4% month over month while oil and natural gas production also climbed 5.2% in September. On a yearly basis, the country’s total production increased 1.5% and its factory output rose 2.9% in September. However, industrial production and manufacturing still remain below theirits pre-recession peak in the first quarter of 2008 by 9.5% and 4.1%, respectively.
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