U.K’s manufacturing production below expectations
The U.K’s Office for National Statistics reported today that British volume of manufacturing production decreased significantly in February.
The report released today shows seasonally adjusted 1.0% decline in number of goods produced in factories.
Manufacturing production declined by 0.3% prior month. For today’s reading economists expected 0.1% gain.
The same report shows that industrial production in U.K. improved by seasonally adjusted 0.4%, in line with expectations.
Previous month data showed 0.6% decrease.
News had negative impact on British pound, which kept on losing against USD. Couple reached 1.5876.
