Industrial Output Down

wotsthat

Some more less than positive news...

http://www.ons.gov.uk/ons/rel/iop/index-of-production/october-2011/stb-iop-oct-2011.html

• The seasonally adjusted Index of Production fell by 1.7 per cent in October 2011 compared with October 2010.
• The seasonally adjusted Index of Manufacturing rose by 0.3 per cent in October 2011 compared with October 2010.
• The seasonally adjusted Index of Production fell by 0.7 per cent between September 2011 and October 2011.
• The seasonally adjusted Index of Manufacturing fell by 0.7 per cent between September 2011 and October 2011.

"It's a grim start to the fourth quarter," said Philip Shaw of Investec.

"It tends to bear out our view that the UK is going to double dip and will re-enter recession. The main question is when, and these figures seem to suggest it could be sooner rather than later.

"Overall, we have been of the view that services will keep the economy afloat during the final three months of the year, but given the scale of the fall in industrial production, we are not so sure. "

purch

Remember Industrial Production figures include Energy Production.

It was substantially warmer this year than last year.

Mallotum_X

Not a great run in to the end of the year. Disapointing to note that the falls appear to be speading up, with the one month drop in production almost half of the yearly drop.

Manufacturing still positive on a year ago.

Suspect we have quite a long time before we are out of all this mess.

Mallotum_X

purch wrote: »

It was substantially warmer this year than last year.

The very cold spell last year was November to December.

We did have a warm October but would that account for all of the difference? If domestic energy and heating has a significant influence then November y-o-y are going to be more of a shocker.

shortchanged_2

Wasn't there a report a couple of days ago that car manufacturing or sales were down? There is no consumer confidence because at present there is no light at the end of the tunnel.

The eurozone crisis grumbles on. How many times over the past few months have we heard about a crucial summit here and there but nothing seems to be done.

The UK economy as well as much of Europe is coming to a standstill. The problems from 2008 have not been resolved and are not going away.