UK industrial production is weaker-than-expected at 0.1% year-on-year in February

FXStreet (Barcelona) - As per the data released by the UK Office for National Statistics (ONS) showed today that industrial production increased by 0.1% in February 2015 compared with February 2014, missing the estimate of a 0.4% gain. The previous month’s figure stood at 1.4%.

Month-on-month, the industrial production rose 0.1%, missing the estimate of a 0.3% gain, and up from a 0.1% contraction seen in the previous month.

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%. In the 3 months to February 2015, production and manufacturing were 10.4% and 4.9%, respectively below their figures reached in the pre-downturn GDP peak in Quarter 1, Jan to Mar 2008.