Industrial production in the United Kingdom decreased 0.9 percent year-on-year in January of 2019, the same as in the previous month and compared with market expectations of a 1.3 percent fall. It was the fifth consecutive monthly decline in industrial activity, as output continued to drop for manufacturing (-1.1 percent from -2.1 percent in December) and electricity, gas, steam & air conditioning supply (-0.7 percent from -4.1 percent). Also, production fell for mining & quarrying (-0.6 percent from 20.4 percent) while it rebounded for water supply (0.8 percent from -0.6 percent). On a monthly basis, industrial output increased 0.6 percent, after a 0.5 percent decline. Industrial Production in the United Kingdom averaged 0.84 percent from 1969 until 2019, reaching an all time high of 22.70 percent in February of 1973 and a record low of -11.90 percent in December of 1980.
Industrial Production in the United Kingdom is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in the United Kingdom to stand at 1.10 in 12 months time. In the long-term, the United Kingdom Industrial Production is projected to trend around 2.20 percent in 2020, according to our econometric models.