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UK Industrial Output Falls More Than Forecast

UK industrial production declined in December, figures from the Office for National Statistics showed Friday.

Industrial output decreased 1.3 percent month-on-month in December, which was the first fall in nine months. Economists had forecast output to fall 0.9 percent after expanding 0.3 percent in November.

Meanwhile, manufacturing output grew 0.3 percent, faster than the 0.2 percent rise seen in November. The rate came in line with expectations.

On a yearly basis, industrial production remained flat in December, after expanding 2.6 percent in November. Output was forecast to grow 0.4 percent.

At the same time, growth in manufacturing output eased to 1.4 percent from 3.8 percent. Nonetheless, the rate exceeded the expected 1.2 percent.

In a separate communique, the ONS said construction output increased 1.6 percent month-on-month in December, confounding expectations for a decline of 0.1 percent.

Despite experiencing three consecutive quarterly declines, construction output grew by 5.1 percent in 2017 due to strong growth at the end of 2016 and in the first quarter.

by RTTNews Staff Writer

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