UK industrial production declined 1% month-on-month in February, the Office for National Statistics or ONS said Tuesday. Economists had expected output to fall 1.2% in February, following a 2.7% decrease in January.
Mining and quarrying output decreased 0.9% with a decrease in oil and gas production output of 0.6%. Energy supply output slid 2.4% on the month with decreases in the electricity, gas and water supply outputs.
Year-on-year, production was down 12.5% in February, in line with economists' expectations.
Meanwhile, manufacturing production in February dropped 0.9% from the previous month, taking the annual decline to 13.8%. Economists were looking for a monthly fall of 1.5% and an annual 14.2% drop in February.
For comments and feedback: contact firstname.lastname@example.org