- Bank of England
The UK industrial production declined more than expected in September and the total industrial production was revised down in the third quarter. At the same time, the country's visible trade deficit narrowed beyond forecasts and manufacturing, on the other hand, rose at the fastest pace on month, the Office for National Statistics reported. The British industrial production tumbled 0.2% in the ninth month of the year, while market experts had been expecting a drop of just 0.1%. In August production was up by 0.9%.
As to UK's manufacturing output, it increased above expectations to a seasonally adjusted 0.8% in September from 0.4% in August, whose figure was revised down from 0.5%. Economists had projected the British manufacturing production to climb up by 0.4% in the previous month. Compared to a year ago, manufacturing fell 0.6%. The UK's trade in goods deficit narrowed to 9.351 billion pounds in September from August's 10.8 billion pounds. The figure was not in line with the forecasted drop of 10.6 billion pounds. The visible trade gap with the Member States of the EU expanded to 7.3 billion pounds, whereas that with non-EU Member States fell to 2.1 billion pounds.
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