British Industry’s Output Rose In October
British industry’s output rose more month-on-month in October 2020 than economists had estimated.
This was shown by data from the ONS statistical office.
According to the latest statistics, industrial production in Britain increased by 1.3% in October 2020 compared to September, when it increased by 0.5 percent month on month.
This result exceeded the estimates of economists, who expected that October production would increase by only 0.3%.
The month-on-month growth of production was recorded in all branches of industry, while production increased by 1.7%, electricity and gas production by 0.3%, output of the mining and quarrying sector by 0.2% and water supply by 0.6%.
However, the ONS recalled that the industry’s October production was still 4.4% lower than in February 2020, which was the last month before the introduction of measures to stop the spread of the new coronavirus.
And in the three months to the end of October 2020, compared to the same period of the previous year, industrial production decreased by 6.1%, which was mainly due to a decrease in production by 7.8%.
In October, the manufacturing sector recorded a year-on-year decline in production for the 19th month in a row – by 7.1%, due to a pandemic and uncertainty about Brexit.