In United Kingdom, the industrial production fell in September after a downwardly revised rebound in August. Mining & quarrying output (-4.9% m/m, -0.7pp contribution) was the major component of the industrial output, posted its largest fall since January 2014. Manufacturing supported offset this, however, rebounding by 0.8% m/m after a notable reduction for most of 2015.
The contribution to manufacturing output was evenly spread among sectors, with the most significant detractor being metals & basic metals (-0.2pp).
"On a quarterly basis, industrial output posted slight increase of 0.1% q/q in Q3 after a flat Q2 print. This was primarily led by mining & quarrying, which was expanded by 2.8% q/q (+0.4pp contribution). Similarly, manufacturing continued its quarterly decline (-0.4% q/q, -0.3pp contribution), driven primarily by metals & basic metals (-0.3pp) and other manufactures (-0.2pp)", notes Barclays.
