Industrial production in the United Kingdom fell by 1.5 percent year-on-year in November of 2018, following an upwardly revised 0.9 percent decrease in the previous month and above market expectations of a 0.7 percent drop. It is third consecutive monthly decline in industrial activity. Output fell further for manufacturing (-1.1 percent from -0.7 percent in October), namely textiles, wearing apparel & leather products (-4.8 percent from -2.6 percent); basic metals & metal products (-5.3 percent from -2.1 percent); electrical equipment (-10.3 percent from -7.4 percent) and machinery & equipment n.e.s. (-3.7 percent from -1.4 percent), and electricity, gas, steam & air conditioning supply (-3.2 percent from -0.3 percent). On the other hand, production fell at a softer pace for water supply (-1.7 percent from -2.7 percent) and mining & quarrying (-2.3 percent from -2.6 percent). On a monthly basis, industrial output went down 0.4 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 2.20 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.