UK: Weak economic releases overall - BBH
|Research Team at BBH notes that in the UK, manufacturing output fell 0.9%, which was a little more than the market expected.
Key Quotes
“A pullback had been expected after the heady rise in December which was revised to 2.2% from 2.1%. Headline industrial output fell 0.4%, a tad less than the market expected.”
“Construction spending also disappointed. It fell 0.4% in January; twice the loss the median forecast anticipated but also follows a strong December gain (1.8%). Lastly, helped by the 1.6% rise in exports and a smaller 0.9% rise in imports, the UK reported a GBP1.966 bln trade deficit. The median expectation in the Bloomberg survey was for a GBP3.1 bln shortfall after GBP2.026 bln deficit in December (which was initially reported as a GBP3.304 bln deficit).”
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