Economics
UK manufactured output slumps 1.9%
Tuesday, 6 October 2009 12:44British manufacturing output dived unexpectedly by 1.9% in August from July, official data shows today, dampening hopes of a speedy economic recovery.
Output in July on a 12-month basis sank 11.3%, the Office for National Statistics said. Market expectations had been for a 0.1% monthly gain and an annual drop of 9.2%.
The ONS said a wider measure of industrial production, which includes mining, quarrying and energy, fell 2.5% in August from July and was down 11.2% year-on-year.
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Analysts said that the figures were extremely disappointing and a shock to the system, although it is clear that output was hit hard by a number of factories closing down for a summer break.
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