–Sep manufacturing output +0.1% m/m; +4.8% y/y; median +0.2;+4.9
–Sep industrial production +0.4% m/m; +3.8% y/y; median +0.4; +3.6
LONDON (MNI) – Manufacturing output continued to rise in September,
but at the slowest pace for five months, figures released by National
Statistics showed Tuesday.
Manufacturing output increased by 0.1% on the month and by 4.8% on
the year in September, slightly below the median forecast for a rise of
0.2% on the month and 4.9% on the year.
The monthly increase in manufacturing was the weakest since April
when output fell 0.8%.
In spite of the latest slowdown, trend growth remains firm with
output up 1% on the quarter in Q3.
The manufacturing sector has grown strongly over the past year and
latest survey evidence points to continued growth ahead. The latest
Markit/Chartered Institute of Purchasing and Supply survey, published by
Reuters, showed the headline October activity index rising to 54.9 from
53.5 in September with export orders increasing at their fastest pace for
five months.
There were rises in 7 of the manufacturing sub-sectors on the month
in September, with 6 sectors posting a decline in output.
The wider measure of industrial production increased by 0.4% on the
month and was up 3.8% on the year, broadly in line with the median
forecast for a 0.4% monthly rise and 3.6% increase on the year.
Output of the electricity, water and gas industries rose 1.4% on
the month while mining and quarrying output rose 1.3% helped by a 0.9%
rise in oil and gas output.
National Statistics said that the rise in industrial production of
0.6% on the quarter was in line with their estimates used to compile the
preliminary GDP data, implying no change to the initial GDP estimate.
–London newsroom 4420 7862 7491 email: drobinson@marketnews.com
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