UK manufacturing production arrives at +0.8% m/m in Jan, a solid beat
The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Tuesday, with the overall industrial activity witnessing a solid upturn in the month of January.
Manufacturing output arrived at 0.8% m/m in Jan versus 0.0% expectations and -0.7% in Dec, while total industrial output came in at +0.6% vs. 0.0% expected and -0.5% last.
On an annualized basis, the UK manufacturing production figures came in at -1.1% in Jan, beating expectations of -1.9%. Total industrial output dropped further by -0.9% in Jan, bettering expectations of a -1.3% drop and against the previous -0.9%.
Separately, the UK goods trade balance numbers were published, which arrived at GBP –13.10 billion in Jan, versus GBP -12.20 billion expectations and GBP -12.10 billion last. Total trade balance (non-EU) came in at GBP -4.977 billion in Jan versus GBP -4.369 billion previous.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
