Manufacturing output on a level

British manufacturing output steadied in October from the previous month, but fell sharply on an annual basis.

Output was unchanged in October from September, but fell by 7.8% compared with October 2008, the British Office for National Statistics said in a statement.  

That was the longest period of 12-month falls since between April 2001 and May 2003. Market expectations had been for a 0.4% monthly gain and an annual of 7.2%.

The ONS added that September output was revised to show a 1.5% monthly gain and a 9.8% slump over the year.

That compared with the original estimate of a 1.7% monthly rise and a 9.3% year-on-year .

The ONS also revealed that a wider measure of industrial production, which includes mining, quarrying and energy, was flat in October from September, but was down 8.4% on an annual basis.