Industrial production in the UK increased 1.4 percent from a month earlier in May of 2019, recovering from an upwardly revised 2.9 percent drop in the previous month and slightly below market expectations of a 1.5 percent gain. Manufacturing output rose 1.4 percent, rebounding from a 4.2 percent slump in the prior month, mainly due to coke & refined petroleum products (2.1 percent from -3.6 percent); chemicals & chemical products (1.4 percent from -6.7 percent) basic metals & metal products (2.6 percent from -4.1 percent); computer, electronic & optical products (2.8 percent from -0.9 percent) and transport equipment (12.4 percent from -13.8 percent). Also, mining & quarrying output edged up 0.4 percent (from -2.8 percent) and production continued to increase for electricity, gas, steam & air conditioning (2.1 percent from 3.7 percent) and water supply (0.9 percent from 0.3 percent). On a yearly basis, industrial output went up 0.9 percent, up from a 1.1 percent fall in April. Industrial Production Mom in the United Kingdom averaged 0.08 percent from 1968 until 2019, 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 0.60 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 -0.60 in 12 months time. In the long-term, the United Kingdom Industrial Production MoM is projected to trend around 0.40 percent in 2020, according to our econometric models.