Friday, September 8, 2017

ONS releases - UK trade: July 2017, UK index of production: July 2017, Construction output in Great Britain: July 2017 and new orders April to June 2017

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8 September 2017

Business, industry and trade

Construction output in Great Britain: July 2017 and new orders April to June 2017

Construction output contracted by 1.2% in the 3 month on 3 month series in July 2017 but remains at relatively high levels.

The 3 month on 3 month decline in output was due to decreases in both repair and maintenance, which fell 1.8% and all new work, which fell by 1.0%.

Construction output also fell month-on-month, falling by 0.9% in July 2017, predominantly driven by a 1.4% fall in all new work.


Economy

UK index of production: July 2017

In the 3 months to July 2017, the Index of Production was estimated to have increased by 0.3% compared with the 3 months to April 2017, due mainly to a rise of 2.2% in mining and quarrying.

The largest contribution to the rise in mining and quarrying in the 3 months to July 2017 came from oil and gas extraction, which rose by 2.6%, due mainly to a lack of maintenance, which has historically taken place in the month of June, although in some previous years this maintenance has occurred later in the summer.

UK trade: July 2017

Between the 3 months to April 2017 and the 3 months to July 2017, the total UK trade (goods and services) deficit widened by £0.4 billion to £8.6 billion, due to a widening of the trade in goods deficit with non-EU countries, in turn primarily due to decreased exports and increased imports of finished manufactured goods.

Between the 3 months to April 2017 and the 3 months to July 2017, the trade in goods deficit with non-EU countries widened by £2.4 billion; this impact was partially offset by a narrowing of the trade in goods deficit with EU countries by £1.3 billion and a widening of the trade in services surplus by £0.7 billion.

Short-term indicators economic commentary: Sept 2017

Statistician's comment

"Manufacturing remains relatively subdued since the start of the year, though July showed the first significant monthly growth of 2017, with car production increasing partly thanks to new models rolling off the production lines. The usual period of summer maintenance of North Sea oil platforms also failed to materialise for a second month running.

Construction output fell for the fourth month in a row, with private housing-building contracting in July 2017 after a strong couple of months.

The trade deficit was little changed in the 3 months to July 2017 with an increase in imported goods partially offset by an increase in exports of services. Exports of goods to the EU increased but this was offset by falling goods exports to the rest of the world."

Turnover in production and services industries: July 2017

Monthly turnover, exports, and orders for the production and services industries.


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