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| UK manufacturing falls in October, ONS figures show | UK manufacturing falls in October, ONS figures show |
| (35 minutes later) | |
| Manufacturing growth fell sharply in October, surprising economists, who had predicted a rise. | Manufacturing growth fell sharply in October, surprising economists, who had predicted a rise. |
| Output from manufacturers dropped by 0.9%, after a 0.6% rise in September, according to the Office for National Statistics (ONS). | Output from manufacturers dropped by 0.9%, after a 0.6% rise in September, according to the Office for National Statistics (ONS). |
| Total industrial production dropped by 1.3% in October, after falling 0.4% in September. The temporary closure of a major oilfield was the main factor. | Total industrial production dropped by 1.3% in October, after falling 0.4% in September. The temporary closure of a major oilfield was the main factor. |
| It was the biggest fall in overall production since August 2013. | It was the biggest fall in overall production since August 2013. |
| The decline in manufacturing output was "broad-based across the sector", the ONS said. The biggest downward pressure came from the pharmaceutical industry, which saw a 3.6% drop. | |
| As for total industrial production, the largest fall in output came from oil and gas, which shrank by 10.8%. | |
| "The increase can largely be attributed to continued maintenance to the Buzzard oilfield in the North Sea," the ONS said. | |
| 'Dent to growth' | |
| Commentators pointed out that the fall in industrial production dealt a blow to the UK's GDP growth prospects in the final three months of the year. | |
| "With much of the latest survey evidence being decent and retail sales surging in October, we had believed that there was a good chance that UK GDP growth in the fourth quarter could match the resilient 0.5% quarter-on-quarter achieved in the third quarter," said Howard Archer, chief UK and European economist at IHS Global Insight. | |
| "October's 1.3% drop in industrial production puts a significant dent in fourth-quarter growth prospects, as it now looks odds-on that the sector will contract in the fourth quarter and possibly markedly - even allowing for the fact that there could be a marked bounce-back in oil and gas extraction as the oilfield comes back into operation. | |
| "While industrial production only accounts for 14.6% of total output, contraction would be a blow." |