ONS data reveals further contraction in UK output

clock

UK industrial and manufacturing output fell further in September, according to the ONS.

Industrial production fell by 0.2pc, equating to a Q3 contraction of 1.1pc, while manufacturing output dipped by 0.8pc, bringing the quarterly decline to 1.3pc. The official data follows that from the Chartered Institute of Purchasing and Supply, which revealed a further contraction of manufacturing output in October. Benjamin Williamson, economist at cebr, said: "Today's news that industrial and manufacturing output continues to fall increases the possibility of a sharp interest rate cut when the Monetary Policy Committee meets on Thursday. We had expected a reduction of 50 basis points...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read
Spring Budget 24: Chancellor unveils long-term UK growth plan

Spring Budget 24: Chancellor unveils long-term UK growth plan

Includes British ISA launch and further NI cut

clock 06 March 2024 • 1 min read