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UK Industrial Production fell by 0.4%

In the 3 months to January 2017, total production was estimated to have increased by 1.9%, with manufacturing providing the largest contribution increasing by 2.1%, its strongest growth since May 2010. The highly volatile pharmaceuticals sector provided the largest contribution to the manufacturing increase, along with smaller upwards contributions from a range of other manufacturing industries.

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UK GDP grew by 0.7% in Q4

UK gross domestic product (GDP) in volume terms was estimated to have increased by 0.7% between Quarter 3 (July to Sept) 2016 and Quarter 4 (Oct to Dec) 2016, revised up 0.1 percentage points from the preliminary estimate of GDP published on 26 January 2017. Upward revisions (due to later data received) within the manufacturing industries is the main reason (these revisions were first published as part of the Index of Production for December 2016 released on 10 February 2017).

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UK Industrial Production increased by 1.1% in December

The Index of Production for Quarter 4 (Oct to Dec) 2016 was estimated to have increased by 0.3%, revised upwards from 0.0% in the Gross domestic product preliminary estimate: Oct to Dec 2016. Manufacturing provided the largest contribution to quarterly growth, largely due to a strong increase in the volatile pharmaceuticals industry.

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UK house prices rose at an annual rate of 5.7%

House prices in the three months to January were 2.4% higher than in the previous quarter; marginally down on 2.5% in December. The annual rate of growth eased to 5.7% from December’s 6.5%, and is well below last March’s peak of 10.0%. The quarterly and annual rates of house price growth remain robust even though they are lower than in spring 2016.

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