United Kingdom: Industrial output maintains momentum
March 10, 2011
In January, industrial production grew a seasonally adjusted 0.5% over the previous month. The print came in a notch below the 0.6% increase tallied in December (previously reported: +0.5% month-on-month) but beat market expectations of a 0.4% expansion. Owing to the strong figure, industrial production rose 4.4% over the same month last year (December: +3.7% year-on-year). The monthly rise was mainly driven by a strong rebound in both the manufacturing as well as in mining and quarrying sector. In particular, manufacturing expanded 1.0% and thus beat market expectations that had growing 0.6%.