UK Industrial Production down by 1.1%
Total production output is estimated to have decreased by 0.4% in December 2015 compared with December 2014. The largest contribution to the fall came from manufacturing, which decreased by 1.7%. Total production output is estimated to have decreased by 1.1% between November 2015 and December 2015. Smaller decrease by 0.1% was forecasted.
There were decreases in 3 of the 4 main sectors, with mining & quarrying having the largest contribution, decreasing by 4.0%. Manufacturing output decreased by 0.2% in December 2015 compared with November 2015.
The largest contribution to the decrease came from the manufacture of wood, paper products & printing, which decreased by 2.1%.
Sterling is currently being traded around 1.4470 area. Pair is likely to find support around 1.44 handle and resistance above 1.45 level. Later today, in the US session, Janet Yellen is due to testify on the Semiannual Monetary Policy Report before the House Financial Services Committee, in Washington DC.
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