Industrial production in the United Kingdom decreased by 0.4 percent from the previous month in November of 2018, following a downwardly revised 0.5 percent fall in October and against market expectations of a 0.2 percent gain. It is the second consecutive monthly decline in industrial activity, as output continued to decline for manufacturing (-0.3 percent from -0.6 percent in October), mainly due textiles, wearing apparel & leather products (-0.6 percent from -0.1 percent); chemicals & chemical products (-0.4 percent from -1.1 percent) and coke & refined petroleum products (-0.2 percent from -2.6 percent), and electricity, gas, steam & air conditioning supply (-1.1 percent from -0.5 percent). Also, production of mining & quarrying went down 1.3 percent, after a 0.9 percent rise in the prior month while water supply showed no growth, following a 0.3 percent drop in October. On a yearly basis, industrial output dropped 1.5 percent. Industrial Production Mom in the United Kingdom averaged 0.07 percent from 1968 until 2018, 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 0.30 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 0.40 in 12 months time. In the long-term, the United Kingdom Industrial Production MoM is projected to trend around 0.50 percent in 2020, according to our econometric models.