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UK Industrial Production fell by 0.3%

Friday, Apr 08 2016

Total production output is estimated to have decreased by 0.5% in February 2016 compared with the same month a year ago, the largest fall since August 2013. The largest contribution to the fall came from manufacturing, which decreased by 1.8%. This was the largest fall since July 2013, when it fell by an equal amount. There were decreases in 10 of the 13 manufacturing sub-sectors, with the largest contribution coming from the manufacture of machinery & equipment not elsewhere classified, which decreased by 10.6% and contributed a downward 0.5 percentage points to total production.

Total production output is estimated to have decreased by 0.3% between January 2016 and February 2016. Analysts were predicting 0.1% increase. There were decreases in 2 of the 4 main sectors, with manufacturing (the largest component of production) having the largest contribution to the decrease, falling by 1.1%. Manufacturing output decreased in 11 of the 13 manufacturing sub-sectors, with the largest contribution coming from the manufacture of transport equipment, which decreased by 2.9%.

 

Sterling is currently being traded around 1.4110 area. Pair is likely to find support around 1.4050 handle and resistance above 1.4180 level. There will be no major data releases later today.

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