Industrial production in the UK went up 0.1 percent from a month earlier in July of 2019, following a 0.1 percent fall in the previous month and compared with market expectations of a 0.1 percent decline. Output rebounded for manufacturing (0.3 percent vs -0.2 percent in June), particularly coke & refined petroleum products (4 percent vs -4.4 percent); basic metals & metal products (1.1 percent vs -2.8 percent); computer, electronic and optical products (2 percent vs -3.5 percent); food, beverages & tobacco (0.8 percent vs -1.1 percent) and other manufacturing & repair (0.8 percent vs -1.9 percent). Also, production rose faster for water supply (1.1 percent vs 0.3 percent). On the other hand, production fell for mining & quarrying (-1.2 percent vs 0.1 percent) and electricity, gas, steam & air conditioning (-1.4 percent vs 0.3 percent). On a yearly basis, industrial output fell 0.9 percent, higher than a 0.6 percent decrease in June but less than market forecasts of a 1.1 percent drop. Industrial Production Mom in the United Kingdom averaged 0.07 percent from 1968 until 2019, reaching an all time high of 9.90 percent in March of 1972 and a record low of -8 percent in February of 1972.
Industrial Production Mom in the United Kingdom is expected to be 0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production Mom in the United Kingdom to stand at -0.60 in 12 months time. In the long-term, the United Kingdom Industrial Production MoM is projected to trend around 0.40 percent in 2020, according to our econometric models.