UK industrial production picks up in June
The result was driven by strong growth in the mining and quarrying and water supply, sewerage and waste management sub-sectors, with the expansion in the former down to greater oil and gas production.
The manufacturing sub-sector was flat month-on-month, while the electricity, gas, steam and air conditioning sub-sector shrank.
Industrial production rose 0.3% in June year-on-year, contrasting May’s 0.2% decline, while annual average growth in industrial production dipped from 1.4% in May to 1.3% in June.
FocusEconomics Consensus Forecast panelists project that industrial production will increase 0.8% in both 2017 and 2018. ■