The United Kingdom’s industrial output fell unexpectedly in May because of the warm weather which became the reason for the decrease in demand for energy. As a result, economic growth did not recover in the second quarter after the sluggish start earlier in the year.
According to the Office for National Statistics (ONS), the UK’s industrial production fell by 0.1% on a monthly basis. The figure did not meet the expectations of analysts who had forecast an increase of 0.3%.
Manufacturing output dropped by 0.2%, while output was forecast to gain 0.3%.
On a yearly basis, industrial production dropped by 0.2%. Economists had forecast a 0.2% increase for May. Manufacturing output grew by 0.4%, 0.5 percentage points lower than forecasts.
According to the ONS, Britain’s visible trade deficit in May widened to GBP 11.9 billion ($15.4 billion) from GBP 10.6 billion in April. The expected level was GBP 10.9 billion.
In January-March, the UK GDP growth came in at 0.2%, at a much slower pace than a 0.7% increase in the fourth quarter of 2016.
