United Kingdom: Industrial output growth gains momentum in January
Industrial production increased 0.6% month-on-month in seasonally-adjusted terms in January (December: +0.3% mom). January’s pickup was partly due to an improvement in manufacturing production growth. In contrast, electricity, gas, steam and air conditioning supply production decelerated.
On an annual basis, industrial output grew 2.3% in January, which was significantly better than December’s 0.4% expansion. Accordingly, annual average industrial production growth rose to 6.1% in January (December: +5.5%). This signals an improving trend in the industrial sector.