UK Manufacturing Falls 1.3% in October

UK manufacturing output registered a surprisingly sharp fall in October, resurrecting fears of recession.

Output fell by 1.3% from September, the Office for National Statistics said, with food and drink output, notably beer, down following the Olympics.

It was the worst fall since June, when activity was depressed by extra public holidays for the Diamond Jubilee.

It also adds to evidence that the UK economy may be relapsing into recession after a short rebound over the summer.

The ONS’s latest growth estimate suggested the economy expanded 1% in the third quarter of the year, following nine months of mild contraction – in part thanks to the boost from tourist spending during the Summer Olympics.

via BBC

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