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Commodity Mid Session News

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(16 Jan 2025, 13:03)

Economic Buzz: UK industrial production edges down by 0.4% in November


UK's monthly production output was estimated to have decreased by 0.4% in November 2024, data from Office for National Statistics showed. This is the third consecutive monthly fall after decreases of 0.3% and 0.6% in September 2024 and October 2024, respectively.

Monthly production output in November 2024 was at its lowest level since May 2020.

The fall in monthly output in November 2024 resulted from decreases in "manufacturing" (down 0.3%), "mining and quarrying" (down 1.5%) and "water supply and sewerage" (down 0.3%); these reductions were partially offset by an increase in "electricity and gas" (0.2%).

The monthly decrease in manufacturing output in November 2024 saw decreases in 7 of its 13 sub-sectors; the largest negative contributions to manufacturing output in November 2024 came from "other manufacturing and repair" (down 2.1%), "basic pharmaceutical products" (down 1.9%) and "transport equipment" (down 0.9%).

Production output for the three months to November 2024 was estimated to have decreased by 0.7% compared with the three months to August 2024; this is the seventh consecutive three-monthly fall since the three months to April 2024.

In the three months to November 2024, "manufacturing" (down 1.0%) was the main contributor to the fall: this was partially offset by increases in "electricity and gas" (0.5%) and "mining and quarrying" (0.3%).

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