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UK manufacturing output fell in October | UK manufacturing output fell in October |
(about 1 hour later) | |
Manufacturing output in the UK fell by 0.4% in October from the previous month, official figures have shown. | Manufacturing output in the UK fell by 0.4% in October from the previous month, official figures have shown. |
The figure, from the Office for National Statistics (ONS), was worse than expected and compared with a 0.9% increase seen in September. | The figure, from the Office for National Statistics (ONS), was worse than expected and compared with a 0.9% increase seen in September. |
Manufacturing output was 0.1% lower than in October a year ago. | |
On Monday a survey by industry body the EEF said UK manufacturing was suffering from the "gathering gloom" of the global economy. | |
The EEF cut its manufacturing forecasts, expecting a 0.1% fall in output this year, with 0.8% growth in 2016. | |
'Erratic factors' | |
Despite the fall in October's figure, analysts said the underlying picture was not so bad. | |
"The fall in manufacturing output seen in October was weaker than the consensus forecast and left output marginally down on the level a year earlier," said Martin Beck, senior economic adviser to the EY Item Club. | |
"This was the fifth consecutive month to see the sector contract on an annual basis. However, October's fall only reversed a minority of September's hefty 0.9% rise. And there appears to have been some erratic factors at work in pushing output down. For example, the repair and maintenance of aircraft saw a colossal 21.5% month-on-month contraction." | |
The ONS figures showed that the wider measure of industrial production increased by 0.1% in October from the month before, and was 1.7% higher from October last year. | The ONS figures showed that the wider measure of industrial production increased by 0.1% in October from the month before, and was 1.7% higher from October last year. |
These numbers showed three out of four sectors increasing, with mining and quarrying the best performer, growing by 8.5% from a year ago. | |
However, the ONS said the level of industrial production was still almost 9% below its pre-recession peak reached in early 2008, while manufacturing output was 6.1% below its peak. |