Tuesday, October 06, 2009
An output shocker
Posted by David Smith at 10:30 AM
Category: Thoughts and responses

Just when the recovery story was going smoothly, along comes the Office for National Statistics to throw a huge spanner in the works. Manufacturing output slumped by 1.9% in August, it said, to the lowest point in the recession. Industrial production as a whole dropped by 2.5%. There is a good chance that at least some of these falls will be reversed in September, August shutdowns appearing to play a significant part and, even with these numbers, overall industrial productions was only down by 0.2% in the latest three months. Even so ... More here.

The Halifax, meanwhile, reported a 1.6% rise in house prices in September. Prices the way Halifax measures them (the three-month average) are still 7.4% lower than a year ago. On a straight month basis, they are 5% lower, so some way behind the Nationwide. More here.