|Source: Office for National Statistics|
UK industrial production for August dipped 1.1% in
the month, abruptly ending a series of positive data on the British economy in
recent months while in Germany, output rebounded after a dip in July.
Figures published by the Office for National Statistics on Wednesday
industrial production dropped to its lowest level in almost a year, with
manufacturing decreasing by 1.2% in August after two consecutive increases.
Production was 1.5% below the level in 2012.
The main components contributing to the decrease in
manufacturing between July 2013 and August 2013 were the manufacture of basic
pharmaceutical products & pharmaceutical preparations; the manufacture of
computer, electronic & optical products; and the manufacture of food products,
beverages & tobacco.
deficit for goods and services narrowed slightly
to £3.3bn in August from £3.4bn in July. The goods trade deficit fell from
£9.94bn in July to £9.63bn in August, boosted by a 1.1% month-on-month
increase in exports and a 0.1% fall in imports. The gap in non-EU trade
narrowed, but trade with the EU worsened. The services surplus narrowed from
£6.5bn to £6.3bn.
In Germany, industrial production in made a
strong rebound in August led by higher demand for cars and capital goods.
German industrial production climbed 1.4% in August after falling by a revised
1.1% in July, data from the German economics ministry on Wednesday showed.
"The upward trend of production in the manufacturing industry continues. The
weakness of the winter season is over," the ministry said in a statement.
There was a 13.6% surge in car production, followed by 4.4% jump in capital
Construction was down 1.9% month-on-month in
August, and energy production dipped 0.2%.
Compared to a year ago, overall industrial
production was at -0.8%.
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