UK manufacturing drops unexpectedly in May
Jul 7, 2017
Official figures show that industrial production in Britain fell 0.1 percent in May from the previous month, further evidence that the slowdown in the British economy is getting broader
LONDON — Official figures show that industrial production in Britain fell 0.1 percent in May from the previous month, further evidence that the slowdown in the British economy is getting broader.
The decline reported by the Office for National Statistics was unexpected — the consensus among economists was for a 0.4 percent increase.
Economists said the weak outcome suggests second-quarter growth will likely be weak. In the first three months, the British economy grew a quarterly rate of 0.2 percent, the lowest of all Group of Seven industrial economies.
Kay Daniel Neufeld, senior economist at the Centre for Economics and Business Research, said "lack of clarity" about Britain's future trading relationship with the European Union is weighing on manufacturing. That uncertainty, he added, was exacerbated by the general election campaign during May.
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