India's factory output slows to 3.8% in September

Reuters

Reuters

However, on a year-on-year (YoY) basis, the index edged higher by 3.80 per cent when compared to September 2016.

In terms of industries, 11 out of 23 industry groups in the manufacturing sector have shown positive growth in September 2017 as against the previous year.

United Kingdom construction activity is worsening, data from the Office for National Statistics showed on Friday.

The figures reportedly suggest that manufacturing may help to counteract a consumer-led slowdown in the economy. During the first half of this fiscal, the output of these goods declined by 1.5 per cent as against a growth of 6.9 per cent previous year.

In the meantime, industrial production data from Finland is due.

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This came on the back of August figures that was revised up to 0.8% growth.

Last week the Bank of England's Monetary Policy Committee raised interest rates from 0.25 per cent to 0.5 per cent, the first increase in the cost of borrowing since July 2007, despite the fact that the economy has slowed considerably this year and considerable trepidation from many firms over Brexit.

Separate data showed the UK's trade deficit in goods and services narrowed by more than expected in September.

That was not enough to prevent a deterioration in Britain's trade performance in the third quarter, however, which looks likely to be a sizeable drag on economic growth.

September was the sixth consecutive rise in industrial production, which Samuel Tombs, chief United Kingdom economist at Pantheon Macroeconomics, pointed out was "a feat last achieved 23 years ago".

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