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UK Manufacturing slows down towards the end of 2013

Concerns are brewing regarding the strength of the UK economy particularly in the manufacturing, industrial production as it slows down towards the end of 2013.

According to latest data from National Statistics office, industrial production recorded 0.0 percent from a previous 0.3 percent as oil and gas extraction dropped 3 percent, while edged up 2.5 percent on the year from a previous of 3.2 percent.

Manufacturing output also stagnated in November after advancing 2.7 percent in October. On the year, manufacturing production surged 2.8 percent from a previous of 0.4 percent.

PMI manufacturing cooled down to 57.3 in December from November`s three-year high of 58.1.

Construction output plunged 4.0 percent in November from the preceding of 2.2 percent.

Reports also showed that British retail industry lost steam in December despite the holiday seasons.

 

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