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- U.K. industrial production rises 0.3% in January
U.K. industrial production rises 0.3% in January
The Office for National Statistics (ONS) released its manufacturing and industrial production figures for the U.K. on Wednesday. Industrial production in the U.K. rose 0.3% in January, missing forecasts of a 0.5% increase, after a 1.1% decline in December.
The increase was mainly driven by a gain in water supply, sewerage & waste management, which soared 9.3% in January.
On a yearly basis, industrial production in the U.K. increased 0.2% in January, in line with expectations, after a 0.2% decrease in December. December's figure was revised up from a 0.4% fall.
Manufacturing production in the U.K. climbed 0.7% in January, exceeding expectations for a 0.2% gain, after a 0.3% decrease in December. December's figure was revised down from a 0.2% drop.
Manufacturing output was mainly driven by a rise in other manufacturing and repair, which climbed by 4.8% in January.
On a yearly basis, manufacturing production in the U.K. decreased 0.1% in January, beating forecast of a 0.7% fall, after a 1.7% drop in December.
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