Industrial production in the United Kingdom decreased 0.8 percent year-on-year in October 2018, after showing no growth in the previous month and compared to market expectations of a 0.2 percent decrease. Production fell for manufacturing (-1 percent from 0.5 percent), namely basic pharmaceutical products (-2.2 percent from 5.1 percent) and transport equipment (-5 percent from 1.2 percent); and water supply (-1 percent from 0.2 percent). Additionally, output continued to decline for mining & quarrying (-1.7 percent from -1.8 percent) while production rebounded for electricity, gas, steam & air conditioning supply (1.2 percent from -1.8 percent). On a monthly basis, industrial output went down 0.6 percent. Industrial Production in the United Kingdom averaged 0.85 percent from 1969 until 2018, 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 2.50 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 2.20 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.