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UK industrial production unexpectedly fell in November
According to the report from Office for National Statistics, production output fell by 0.1% between October 2020 and November 2020, with falls of 3.4% in mining and quarrying, 2.3% in electricity and gas and 0.4% in water and waste; this was offset by a rise in manufacturing of 0.7%. Economists had expected a 0.5% increase.
In November 2020 production output was 4.7% below February 2020, the previous month of "normal" trading conditions, prior to the coronavirus (COVID-19) pandemic.
The monthly increase of 0.7% in manufacturing output was led by manufacturing of transport equipment; 8 of the 13 subsectors displayed upward contributions.
Total production output increased by 4.7% for the three months to November 2020, compared with the three months to August 2020; this was because of weak output in June 2020.
For the three months to November 2020, compared with the three months to November 2019, production output decreased by 5.6%; this was led by a fall in manufacturing of 5.5%.
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