Manufacturing downturn leads to 0.3% drop in UK monthly GDP for Oct
13 Dec 23 1 min read
Insights
- Monthly UK real GDP is estimated to have shown no growth in the three months to October compared with the three months to July, official statistics show.
- Monthly GDP grew by 0.3 per cent year on year in October.
- Manufacturing fell by 1.1 per cent in October with widespread falls in 10 (including textile, apparel and leather products) of the 13 sub-sectors.
A fall in services output was the main contributor to the decline in GDP growth.
Monthly GDP is estimated to have fallen by 0.3 per cent in October, following growth of 0.2 per cent in September.
Production output fell by 0.8 per cent in the month, driven by widespread declines in manufacturing, after showing no growth in September.
Production output is estimated to have fallen by 0.7 per cent in the three months to October compared with the three months to July, driven by a fall of 0.9 per cent in manufacturing.
On the month, production output is estimated to have fallen by 0.8 per cent in October 2023, driven by widespread declines in manufacturing output, following no growth in September and a fall of 0.5 per cent in August.
Manufacturing fell by 1.1 per cent in October with widespread falls in 10 (including textile, apparel and leather products) of the 13 sub-sectors.
Fibre2Fashion News Desk (DS)
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