United Kingdom: Industrial output dips in April
Industrial output declined 1.3% in month-on-month seasonally-adjusted terms in April, which contrasted March’s 1.8% increase. The figure was chiefly driven by a drop in manufacturing output. In addition, water supply and mining and quarrying output contracted.
On an annual basis, industrial production rose at a quicker rate of 27.5% in April (March: +3.6% yoy), the best result on record, thanks to the favorable base effect. Moreover, the trend improved notably, with the annual average variation of industrial production coming in at minus 2.9%, up from March’s minus 7.2% reading.