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U.K Industrial Production up by 0.1%

Friday, Apr 10 2015
Total production output in the U.K. is estimated to have increased by 0.1% in February 2015 compared with February 2014. There were increases in 2 of the 4 main sectors, with manufacturing output being the largest contributor, increasing by 1.1%.There were increases in 9 of the 13 manufacturing sub-sectors compared with a year ago and the largest contributor was the manufacture of transport equipment, increasing by 6.1%.
 
Total production output increased by 0.1% in February 2015 compared with January 2015. Analysts were predicting 0.3% increase. There were increases in 3 of the 4 main sectors, with manufacturing being the largest contributor, increasing by 0.4%, in line with market expectations. The main components contributing to the month-on-month increase in manufacturing were the manufacture of transport equipment, the manufacture of machinery & equipment not elsewhere classified and the manufacture of basic metals & metal products.
 
After the data, Sterling was pushed lower and is currently being traded around 1.4660 area. Pair is likely to find support around 1.46 handle and resistance above 1.4730 level. There will be no major data releases in the rest of the session.
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