10 Feb 2015
UK Industrial Production contracts in December
FXStreet (Mumbai) - The data released by the UK Office for National Statistics today the industrial production in December expanded 0.5%, in line with the consensus estimate, and down from the November’s 1.1%.
Month-on-month the Industrial production contracted 0.2%, compared to the estimate of 0.1% fall. Meanwhile, manufacturing production beats expectation, as it rose 2.4% year-on-year and 0.1% month-on-month. The manufacturing output for November was revised up to 3.05 year-on-year and 0.8% month-on-month.
Despite the fall in December, the Q4 Industrial production estimate was revised up to 0.1%, above the forecasted decrease of 0.1% included in the GDP preliminary estimate. However, the ONS said the upward revision is unlikely to affect GDP significantly.
Month-on-month the Industrial production contracted 0.2%, compared to the estimate of 0.1% fall. Meanwhile, manufacturing production beats expectation, as it rose 2.4% year-on-year and 0.1% month-on-month. The manufacturing output for November was revised up to 3.05 year-on-year and 0.8% month-on-month.
Despite the fall in December, the Q4 Industrial production estimate was revised up to 0.1%, above the forecasted decrease of 0.1% included in the GDP preliminary estimate. However, the ONS said the upward revision is unlikely to affect GDP significantly.