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- U.K. January industrial output declines unexpectedly
U.K. January industrial output declines unexpectedly
U.K.'s industrial production declined unexpectedly by 1.2 percent month-on-month in January, reversing a 1.1 percent rise in December, the Office for National Statistics said Tuesday. Output was forecast to grow 0.1 percent.
Similarly, manufacturing output slipped 1.5 percent, offsetting the 1.5 percent increase seen in December. Economists had forecast output to remain flat in January.
The annual decline in industrial output accelerated to 2.9 percent in January from 2.1 percent in December. Likewise, manufacturing output dropped at a faster pace of 3 percent, following last month's 1.6 percent fall.
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