British manufacturing output falls 0.3% in August

11th October 2011, Comments 0 comments

Britain's manufacturing output fell 0.3 percent in August compared with July, recording its lowest annual growth rate for 18 months, official data showed on Tuesday.

Production rose 1.5 percent in August compared with 12 months earlier -- the smallest annual increase since February 2010, the Office for National Statistics said in a statement.

Industrial production overall, which includes mining and quarrying, as well as the electricity, gas and water supply sectors, rose 0.2 percent in August from July but dropped 1.0 percent on an annual basis, the ONS added.

"August is the sixth consecutive month during which industrial production has stagnated or fallen year-on-year," said Teodor Todorov, an economist at the Centre for Economics and Business Research.

"While manufacturing has performed better than other industry groups, its pace of its growth is definitely slowing."

The data comes just a few days after the Bank of England injected £75 billion (86 billion euros, $115 billion) of new money into Britain's stalled economy in a bid to boost growth.

© 2011 AFP

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