United Kingdom: Industrial activity falls at sharpest pace since April 2020 in January
Industrial production decreased 1.5% month-on-month in seasonally-adjusted terms in January (December: +0.2% mom). The figure marked the worst reading since April 2020. The reading was largely driven by a sharp contraction in manufacturing output.
On an annual basis, industrial output fell 4.9% in January, which was below December’s 3.3% fall. Moreover, the trend pointed down, with the annual average variation of industrial production coming in at minus 8.8%, down from December’s minus 8.5% reading.