UK Manufacturing Production declines 0.4% MoM in January vs. -0.1% expected

Dhwani Mehta FXStreet

The industrial sector activity showed contraction in January, the latest UK industrial and manufacturing production data published by Office for National Statistics (ONS) showed on Friday.

Manufacturing output arrived at -0.4% MoM in January versus -0.1% expectations and 0% registered in December while total industrial output came in at -0.3% MoM vs. -0.2% expected and 0.3% last.

On an annualized basis, the UK manufacturing production figures came in at -5.2% in January, missing expectations of -5.0%. Total industrial output plunged by 4.3% in the first month of the year against -4.0% expected and the previous -4.0% reading.

Separately, the UK goods trade balance numbers were published, which arrived at GBP-17.855 billion in January versus GBP-17.75 billion expectations and GBP-19.271 billion last. The total trade balance (non-EU) came in at GBP-7.808 billion in January versus GBP-7.484 billion previous.

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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.

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