Economy

Factory output slows to 3.8% in September

Factory output slows to 3.8% in September

In terms of industries, eleven out of the twenty three industry groups (as per 2-digit NIC-2008) in the manufacturing sector have shown positive growth during the month of September 2017 as compared to the corresponding month of the previous year.

France industrial production rebounded in September, data from the statistical office Insee showed Friday.

However, construction output fell by 1.6 per cent in the month.

The industry group "Manufacture of pharmaceuticals, medicinal chemical and botanical products" has shown the highest positive growth of 26.4 per cent followed by 13.2 per cent in "Manufacture of computer, electronic and optical products" and 13.1 per cent in "Manufacture of motor vehicles, trailers and semi-trailers".

The IIP (Indices of Industrial Production) is compiled using data received from 14 government agencies including the Department of Industrial Policy & Promotion, Ministry of Petroleum & Natural Gas, and Department of Fertilisers.

"Industrial production has risen for six consecutive months, a feat last achieved 23 years ago", said Samuel Tombs, chief United Kingdom economist at Pantheon Macroeconomics.

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The reports round off a quarter which saw economic growth pick up slightly to 0.4 percent, a level which remains below its pre-Brexit referendum average as political uncertainty and inflation crimp consumer spending.

Construction output fell 1.6 percent from August, the most since March a year ago.

The revisions have little effect on GDP growth in the third quarter, the ONS said. However, this was weaker than the expected increase of 0.8 percent.

In the three months to September 2017, the total United Kingdom trade deficit widened by £3bn to £9.5bn, mainly due to a increased imports, including of machinery, non-monetary gold and fuels.

The ONS said the latest economic data did not suggest there would be any change to its initial estimate that the United Kingdom economy grew 0.4% in the third quarter of the year.


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