UK production output falls by 0.2% in Feb; manufacturing output flat

17 Apr '23

1 min read

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Insights

UK production output fell by around 0.2 per cent in February following a downwardly revised fall of 0.5 per cent in January.
Monthly manufacturing output remained flat and saw seven of its 13 sub-sectors negatively contributing to growth.
Production output for the three months to February fell by 0.1 per cent compared with the three months to November 2022.

UK production output was estimated to have fallen by 0.2 per cent in February this year following a downwardly revised fall of 0.5 per cent in January, as per the Office of National Statistics (ONS). Monthly manufacturing output remained flat and saw seven of its 13 sub-sectors negatively contributing to growth during the month.

The fall in production output was due to a decline in two of the four production sectors, with electricity and gas falling by 2.2 per cent, the ONS said in a release.

The manufacture of chemicals and chemical products contributed negative 0.11 percentage points to the index of production (IoP), with growth falling by 2.5 per cent. This was offset by the largest positive contribution of 0.14 percentage points from manufacture of computer, electronic and optical products, with growth rising by 2.9 per cent.

Monthly production output remained 0.7 per cent below February 2020, the last month of normal trading conditions before the COVID-19 pandemic.

Production output for the three months to February 2023 fell by 0.1 per cent compared with the three months to November 2022.

Fibre2Fashion News Desk (DS)

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