Industrial production in the UK increased by 0.3% in December

Industrial production increase slowed to 0.3% in December, according to the UK Statistics Office. In the former month, it increased by 1%. By December 2020, the industrial production volume showed an increase of 0.4%. Statistical indicators diverge from the analysts’ plans. They assumed that the country’s industry will show growth in December by 0.1% and 0.6% in monthly and annual terms. High growth rates of production volume were recorded in pharmaceutical companies, as well as in enterprises engaged in transport equipment production. They amounted to 12% and 3.1% respectively. UK industry is not yet able to range the volume that was observed before the crisis. The backlog is 2.6%. A particularly challenging situation has developed in the extractive industry, the production volume, which decreased by more than 18% compared to February 2020. Today, data on the results of the country’s foreign trade activities were also released. As a result of December, the UK foreign trade deficit increased to 12.4 billion pounds.

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Arseny Kudrin

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