UK Jan industrial production declines, but bang on expectations

The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Friday, showing that the overall industrial activity contracted in January, as widely expected.

Manufacturing output dropped -0.9% m/m in Jan versus a 1.3% rise seen in Dec, while total industrial output also witnessed a slowdown, with the figures showing a -0.4% decrease in the reported month, a 2.1% growth seen in Dec.

On annualized basis, UK manufacturing production also contracted 2.7% in Jan, compared with expectations of +3.0%. Total industrial output also dropped 3.2% from a year earlier, missing expectations of a 3.3% rise and against the previous +2.0% print.