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- U.K. industrial production recovers strongly in February
U.K. industrial production recovers strongly in February
U.K. industrial production recovered at a faster than expected pace in February, the Office for National Statistics said Tuesday.
Industrial output grew 1 percent in February from a month ago, when it was down 1.3 percent. The rate of growth exceeded a 0.4 percent rise forecast by economists.
Likewise, manufacturing output advanced 0.8 percent month-on-month, partially offsetting the 1.9 percent decrease in January. It was forecast to grow 0.4 percent.
On a yearly basis, both industrial and manufacturing output continued its negative trend in February. Industrial production slipped 2.2 percent, following January's 3.1 percent fall. Similarly, manufacturing output was down 1.4 percent, smaller than the 3.3 percent drop seen in January.
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