UK industrial production remained unchanged in October, while manufacturing continued to expand on car production.
Industrial production remained flat, as expected, after expanding 0.7 percent in September, data from the Office for National Statistics revealed Friday.
At the same time, manufacturing output grew marginally by 0.1 percent on month, but slower than September's 0.7 percent increase.
Manufacturing output was also forecast to remain flat in October. The sector expanded for the sixth straight month.
Car production grew 4.6 percent from September to match the record index level reached in July, data showed.
On a yearly basis, industrial production growth accelerated to 3.6 percent from 2.5 percent in September. This was the fastest growth so far this year. Production was expected to climb 3.5 percent.
Likewise, the annual increase in manufacturing output improved to 3.9 percent from 2.7 percent in September. Economists had forecast a 3.8 percent rise.
Another report from the ONS showed that construction output declined unexpectedly by 1.7 percent in October partly due to a 1.5 percent fall in all new work. Economists had forecast a 0.1 percent rise.
Year-on-year, construction output declined for the first time in more than a year. Output slid 0.2 percent, following September's 1.1 percent increase.
Construction output contracted for the sixth consecutive period in the three-month on three-month time series, falling by 1.4 percent in October, ONS said.
In a separate communique, the ONS said the trade in goods showed a shortfall of GBP 10.78 billion compared to a GBP 10.45 billion deficit in September. The expected level was GBP 11.5 billion.
The total trade, including goods and services, posted a deficit of GBP 1.40 billion compared to GBP 1.14 billion shortfall in the previous month.
The trade data suggests that net trade is still not providing much support to real GDP growth, after subtracting 0.5 percentage point from growth in the third quarter, Ruth Gregory, an economist at Capital Economics, said.
by RTT Staff Writer
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