Manufacturing production in the United Kingdom fell 1 percent year-on-year in October of 2018, down from a 0.5 percent rise in the previous month. It was the first decline in factory activity since October 2016 and compares with market expectations of a flat reading. Production fell for basic pharmaceuticals products & preparations (-2.2 percent from 5.1 percent in September) and transport equipment (-5 percent from 1.2 percent). Additionally, production declined at a fastest pace for textiles, wearing apparel & leather products (-4.5 percent from -3.6 percent); wood & wood products (-1.7 percent from -0.8 percent); rubber & plastic (-2 percent from -1.7 percent) and basic metals & metal products (-3.2 percent from -0.3 percent). On a monthly basis, manufacturing output decreased 0.9 percent, after a 0.2 percent gain in September. Manufacturing Production in the United Kingdom averaged 0.62 percent from 1969 until 2018, reaching an all time high of 19.60 percent in February of 1973 and a record low of -16.90 percent in December of 1980.
Manufacturing 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 Manufacturing Production in the United Kingdom to stand at 2.50 in 12 months time. In the long-term, the United Kingdom Manufacturing Production is projected to trend around 2.30 percent in 2020, according to our econometric models.