U.K. Industrial Production Falls In December

U.K. industrial production declined more than expected in December, while the manufacturing sector maintained its growth, the Office for National Statistics said Tuesday.

Industrial output fell 0.2 percent from the prior month, after staying flat in November. It was expected to fall by 0.1 percent

Manufacturing output gained unexpectedly in December. Nonetheless, growth slowed to 0.1 percent from November's 0.8 percent. Economists had forecast a 0.1 percent fall in December.

The annual growth in industrial output halved to 0.5 percent in December, in line with forecast, from 1.1 percent in November.

Likewise, growth in manufacturing output slowed to 2.4 percent from 3 percent. Economists had forecast a 2 percent rise for December.

In the fourth quarter, industrial production gained 0.1 percent from the prior quarter. The largest contribution to the expansion came from manufacturing, which was up 0.2 percent.

In 2014, industrial production climbed 1.4 percent reversing a 0.5 percent fall in 2013. Of the main four sectors, manufacturing output was the only one to rise, increasing 2.7 percent.

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