U.K. Production Unexpectedly Drops, May Drag on Economic Growth

U.K. industrial production unexpectedly declined in February, meaning that the sector may be a drag on growth in the first quarter.

The 0.3 percent drop followed a revised 0.2 percent increase in January, the Office for National Statistics said on Friday. Based on the current figures, output would need to surge 3.1 percent in March just to come in flat for the quarter.

Manufacturing production also fell in February, dropping 1.1 percent. It was down 1.8 percent from a year earlier.


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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam