UK industrial production down more than expected in March

ISTANBUL

Industrial production in the UK contracted 0.7% month-on-month in March, more than expected, according to official data released on Thursday.

This rebound followed an upwardly revised rise of 1.7% in February, data from the Office for National Statistics (ONS) showed.

Markets had expected the figure to post a fall of 0.6% in March.

The fall in monthly output was driven by declines in manufacturing (0.8%), mining and quarrying (1.2%), and electricity and gas (0.7%).

"The increase in manufacturing output during Quarter 1 2025 saw rises in 10 of its 13 subsectors," the ONS said.

"The largest of the seven negative contributions to manufacturing output in March 2025 came from similar-sized decreases in 'computer, electronic and optical products' (down 8.4%) and 'basic pharmaceutical products' (down 5.8%); this is mainly a fallback, following strength from both subsectors during February 2025, when they increased by 9.8% and 4.4%, respectively," it added.

In the first quarter of 2025, production output climbed 1.1% on a quarterly basis.

On an annual basis, production contracted 0.7% in March, below market forecasts of a 0.9% contraction.