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UK’s industrial production up 1% in August, beats expectations

by ChemOrbis Editorial Team - content@chemorbis.com
  • 07/10/2015 (16:15)
According to data from the Office for National Statistics (ONS), industrial production in the UK rose 1% on the month in August, exceeding economists’ expectations which called for a gain of 0.3% in a survey by Bloomberg.

The country’s manufacturing output also increased by 0.5% after declining 0.7% in the preceding month. The increase was led by higher gas extraction as well as stronger production for transport equipment which posted its largest gain seen since 2011.

Oil and gas extraction climbed 8.7% in August, posting the biggest monthly increase since February 2014 on the back of a decreased number of plant shutdowns. Production for transport equipment rose 4.6% in August, recording the strongest gain since January 2011.

On a yearly basis, meanwhile, the UK’s industrial output increased 1.9% in August; however manufacturing output declined 0.8% compared with the same month of 2014.
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