United Kingdom: Industrial production ekes out tepid expansion in February
Industrial production rose 0.1% in February over the prior month according to the Office for National Statistics, down from January’s 1.3% increase and slightly undershooting analysts’ expectations. The result was driven by growth in the electricity, gas, steam and air conditioning and water supply, sewerage and waste management sub-sectors, which was partially offset by contractions in the mining and quarrying and manufacturing sub-sectors.
Industrial production increased 2.2% year-on-year in February, up from January’s 1.2% rise (previously reported: +1.6% yoy). Annual average growth in industrial production dipped from 1.7% in January to 1.6% in February.