Friday, August 06, 2010
Industrial production dips, manufacturing grows
Posted by David Smith at 10:30 AM
Category: Thoughts and responses

Industrial production dropped by 0.5% in June, weaker than expected, because of a drop in energy output, but the quarterly rise in production, 1%, was in line with estimates used for the second quarter gross domestic product figures. So on this basis, no revision to the 1.1% jump in GDP will be needed.

Manufacturing output did better, up 0.3% in June and 4.1% on a year earlier. According to the Office for National Statistics, that rise included some impressive individual gains, including a 12.9% rise in machinery and equipment, and 9% in transport equipment. If there are a couple of sectors you would want to be in they are "manufacture of machinery for the production of mechanical power", up 37.5% and "building and repairing of ships and boats", up 41.3%. Sadly, neither is very big. More here.