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Economy in Brief

UK Industrial Output Falls Again
by Robert Brusca April 8, 2009

UK’s industrial output index fell again making it twelve straight months of decline. There is a slight let up in the pace of decline in IP as the growth rate’s declining profile at the three month tenor shows signs of abating (see chart). Still other trends show that strong downward momentum remains in force.

Consumer durables output accelerated its drop over three-months compared to six months as did intermediate and capital goods industries. Even so, each of these the three-month growth rates for February was stronger than in January. Consumer nondurables industrial output rose in February. Most sectors saw growth rates worsen over three-months compared to six months. Food and drink was an exception; motor vehicles were another exception as growth rates hovered at a horrific -64% annual rate.

The growth rates being posted for the quarter-to-date continue to be very weak and in line with recent trends. Q1 is cropping up to be another bad one.

UK IP and MFG
Saar except m/m Mo/Mo Feb
09
Jan
09
Feb
09
Jan
09
Feb
09
Jan
09
 
UK MFG Feb
09
Jan
09
Dec
08
3Mo 3Mo 6mo 6mo 12mo 12mo Q1
Date
MFG -0.9% -3.0% -1.9% -20.7% -27.4% -20.4% -20.2% -13.8% -13.0% -24.2%
Consumer
C-Durables -0.4% -4.8% -3.6% -30.1% -35.3% -26.6% -27.6% -21.3% -19.8% -33.0%
C-Non-durables -0.1% 0.8% -0.5% 0.8% -6.8% -5.4% -5.6% -5.0% -4.4% -1.2%
Intermediate -1.4% -3.3% -1.7% -23.0% -25.4% -20.7% -19.9% -13.8% -12.7% -25.0%
Capital -1.6% -5.4% -2.1% -31.1% -36.4% -26.1% -25.3% -16.9% -16.1% -35.1%
Memo:Detail 1Mo% 1Mo% 1Mo% 3Mo 3Mo 6mo 6mo 12mo 12mo Q1
Date
Food Drink&tobacco 0.2% 1.6% -2.1% -1.6% -5.9% -3.4% -2.4% -3.9% -3.8% -0.5%
Textile&Leather -0.8% -1.5% -2.1% -16.6% -6.5% -10.8% -11.3% -5.4% -4.1% -12.3%
Motor Vehicles & trailer -4.1% -18.8% -0.8% -64.3% -77.2% -46.5% -64.9% -46.0% -43.5% -74.9%
Mining and Quarry -0.9% -2.9% -0.3% -15.1% -6.8% -8.4% -7.8% -7.7% -7.8% -13.7%
Electricity, gas&H2O -2.5% 0.1% 0.4% -7.9% -3.5% -7.6% -5.6% -4.9% -2.6% -6.4%
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