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Industrial output falls 2.5%
Industrial output in the UK fell unexpectedly in August, creating doubt over the strength of the economic recovery, according to figures released by the Office for National Statistics (ONS).
The ONS have revealed that industrial output declined 2.5% from July to August - the biggest fall since January. Economists had expected a 0.2% rise in August.
The steep decline followed a month-on-month increase of 0.6% in July and takes output of the production industries back to its lowest level since the recession began.
"August's dismal industrial production figures will dampen some of the recent optimism about the economy's apparent bounce-back and a return to positive overall GDP growth in Q3 now looks less certain," said Vicky Redwood of Capital Economics.
Post Date: October 6th, 2009
The ONS have revealed that industrial output declined 2.5% from July to August - the biggest fall since January. Economists had expected a 0.2% rise in August.
The steep decline followed a month-on-month increase of 0.6% in July and takes output of the production industries back to its lowest level since the recession began.
"August's dismal industrial production figures will dampen some of the recent optimism about the economy's apparent bounce-back and a return to positive overall GDP growth in Q3 now looks less certain," said Vicky Redwood of Capital Economics.
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Post Date: October 6th, 2009
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