Manufacturing takes a big hit


The UK economy has been hit by a “steep decline” in manufacturing, figures from the Office for National Statistics (ONS) show.


The economy as measured by gross domestic product (GDP) grew by 0.3% in the three months ending November compared with the previous three-month period. In October the equivalent increase was 0.4%.


Rob Kent-Smith, ONS head of national accounts, said: “Growth in the UK economy continued to slow in the three months to November 2018 after performing more strongly through the middle of the year.” He added that manufacturing “saw a steep decline”, with car production and the pharmaceutical industry both performing poorly.


The figures show that manufacturing output fell by 0.8% in the three months to November compared with the previous three months.


Ten out of the 13 sub-sectors within manufacturing posted decreases in output, highlighting widespread weakness throughout the sector. The largest downward contribution came from transport equipment, which fell by 1.1%. The fall was driven by the impact of shutdowns within the industry in October 2018, and by reduced production in November 2018. The output of pharmaceutical products fell by 2.2%, but growth within this sub-sector can be volatile.

https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/november2018