Index Of Production Uk - November 2022

13th January 2023

The report published today by the Office for National Statistics.

Monthly production output fell by 0.2% between October and November 2022 and is 2.5% below February 2020; this was the last month of "normal" trading conditions before the coronavirus (COVID-19) pandemic.

The monthly fall in output resulted from a decline in two of the four production sectors, with manufacturing falling by 0.5%, and electricity and gas by 0.4%; this was offset by growth from mining and quarrying and water supply and sewerage, which rose by 2.8% and 0.2% respectively.

Manufacturing saw 6 of its 13 sub-sectors negatively contributing to growth during November 2022; most notably, the manufacture of basic pharmaceutical products, which contributed negative 0.28 percentage points to the Index of Production (IoP) (with growth falling by 4.3%), and the manufacture of chemicals and chemical products, which contributed negative 0.12 percentage points (with growth falling by 2.8%).

Partially offsetting the negative growth in manufacturing was a positive contribution of 0.10 percentage points (with growth rising by 1.1%) from manufacture of transport equipment, the third consecutive period of monthly strength from this sub-sector.

Output remained below the February 2020 pre-coronavirus pandemic levels in the mining and quarrying (13.6% below), electricity and gas (3.1% below) and manufacturing (2.5% below) sectors.

In contrast, water supply and sewerage were above the February 2020 level, at 7.7%.

Production output for the three months to November 2022 declined by 1.4% compared with the three months to August 2022, with falls in electricity and gas (3.0%), mining and quarrying (1.7%), manufacturing (1.2%) and water supply and sewerage (1.1%).

Further analysis of the effect on our monthly IoP estimate is available in our Gross domestic product (GDP) monthly estimate, UK: November 2022 bulletin, published 13 January 2023.

Note
To read the report in full go HERE