Bulletin

Slowdown fear ebbs as oil and gas output lifts industry data

Crude production - 0.5% increase in manufacturing output during August - SantanderCB

The Office for National Statistics has revealed a 0.5% increase in manufacturing output during August, following a 0.7% dip in July. Whilst the slowdown was prompted by an early summer shutdown of car plants, food and drink and metal production helped the recovery in August. Year-on-year, output in the month was down 0.8% and 6.5% below the pre-crisis peak. Confounding expectations, industrial production increased 1% between July and August, and 1.9% compared with a year ago. This was attributed to increases in crude oil production, with output in mining and quarrying as a whole rising nearly 18% year on year.

 

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