United Kingdom: Industrial production ticks up in February
Industrial production rose 0.1% in February over the previous month, down from January’s revised 0.2% increase (previously reported: -0.1% month-on-month). February’s reading was driven by higher manufacturing output, but did not yet fully reflect the impact of coronavirus.
In annual terms, industrial production fell 2.8% in February, matching January’s revised figure (previously reported: -2.9% year-on-year).
Looking ahead, Covid-19 will likely weigh heavily on industrial output in the near term due to the UK’s current lockdown and weaker external demand.