UK industrial production unexpectedly crashed in June

UK industrial production declined 0.4% in June, surprising analysts who predicted a 0.1% increase.

Mining and quarrying fell a huge 3.8% month-on-month, according to the Office of National Statistics, as the commodities price rout worsened.

The fall was balanced out by manufacturing output posting an increase of 0.5%, a little higher than estimates of 0.4%.

Here are the main points from the ONS report:

  • Total production output is estimated to have increased by 0.7% between Quarter 1 (Jan to Mar) 2015 and Quarter 2 (Apr to June) 2015.
  • In the 3 months to June 2015, production and manufacturing were 9.2% and 4.8% respectively below their figures reached in the pre-downturn GDP peak in Quarter 1 (Jan to Mar) 2008.
  • Total production output is estimated to have increased by 1.5% in June 2015 compared with June 2014.

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