UK industrial and manufacturing numbers softer - TDS

Research Team at TDS, notes that the UK headline industrial production shows the expected distortions in the utilities sector from the warmer than usual December, while we also had large downside in the mining and oil and gas sectors, as well.

Key Quotes

“But digging into the manufacturing sector, we should be seeing some beneficial pass-through from the weaker GBP as a boost here, but instead, there seems to have been a bit more unexpected softness.

On the month, manufacturing production is down 0.2%, so not as bad as the Eurozone figures we've had so far, but it certainly seems to be sharing in further global production weakness into the end of the year. The manufacturing weakness was heavily focused on the electrical equipment sector, rather than broadly based.”