13 days ago • Posted by William Ramstein
UK industrial production surprisingly shrank MoM
Industrial production in the UK unexpectedly shrank 1.3 percent month-over-month in April of 2021, the first drop in three months and compared to forecasts of a 1.2 percent rise. Decreases were seen for mining and quarrying (-15 percent), due to planned temporary closures for maintenance of oil field production sites, manufacturing (-0.3 percent) and water supply and sewerage (-0.9 percent), partially offset by a rise in electricity and gas of 0.5 percent. Industrial output was 3.1 percent below its February 2020 level, the last month of "normal" trading conditions prior to the coronavirus (COVID-19) pandemic.
Source: Trading Economics