U.K. September Industrial Production Slumps Unexpectedly

U.K. September Industrial Production Slumps Unexpectedly

The National Statistics Office in London on Tuesday reported an unexpected drop in U.K. industrial output in September, confirming the lingering challenges for the economy.

Industrial Production in September dropped 1.7% following a drop of 0.5% the previous month that was also worse than the expected drop of 0.6% and sharply below the gain reported in July of 3.0%.

On the year production dropped 2.6% following a revised drop of 1.0% the previous month from the originally reported estimate of -1.2%. The annual output also trailed expectations for a slower contraction of -1.6%.

Manufacturing output on the other end gained less than expected by 0.1% over the month below median estimates for 0.4% gain and following a revised drop of 1.2% in August from the reported -1.1%.

On the year, manufacturing production dropped 1.0% deeper than the expected drop of 0.8% and slightly less than the drop reported in August of 1.2%.