Industrial production in the United Kingdom plunged 4.2% month-over-month in March of 2020, compared to market forecasts of a 5.6% drop. It is the biggest decline in industrial output since a record 7.8% drop in February of 1972, after the country imposed a lockdown from March 23rd due to the coronavirus, forcing many businesses to close. Manufacturing provided the largest downward contribution, falling by 4.6%; there were also falls from mining and quarrying (11.5%), electricity and gas (1.5%) and water and waste (0.5%). Considering Q1, industrial output decreased 2.1%, led by a 1.7% drop in manufacturing, mainly transport equipment.
Industrial Production Mom in the United Kingdom averaged 0.07 percent from 1968 until 2020, reaching an all time high of 9.70 percent in March of 1972 and a record low of -7.80 percent in February of 1972. This page provides the latest reported value for - United Kingdom Industrial Production MoM - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Industrial Production MoM - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020. source: Office for National Statistics
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 0.50 in 12 months time. In the long-term, the United Kingdom Industrial Production MoM is projected to trend around 0.40 percent in 2021, according to our econometric models.