UK Industrial Production increased by 0.3%

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Wednesday, Mar 09 2016

Total production is estimated to have increased by 0.3% between December 2015 and January 2016. Analysts were expecting 0.6% increase. There were increases in 3 of the 4 main sectors, with manufacturing (the largest component of production), having the largest positive contribution, increasing by 0.7%.

The largest contribution to the increase in manufacturing, between December 2015 and January 2016, came from other manufacturing & repair, which increased by 4.8%. This industry includes the manufacture of furniture, other manufacturing & repair and installation of machinery & equipment.

Total production output is estimated to have increased by 0.2% in January 2016 compared with the same month a year ago. The only main sector to rise was water supply, sewerage & waste management, which increased by 9.3%. Manufacturing output is estimated to have decreased by 0.1% in January 2016 compared with January 2015. Output decreased in 7 of the 13 manufacturing sub-sectors compared with a year ago.

Sterling is currently being traded few points above 1.4220 level. Pair is likely to find support around 1.4150 handle and resistance above 1.4250 level. There will be no major data releases later today.

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