Latest data released by ONS - 9 February 2018

  • Prior m/m +0.4%; revised to +0.2%
  • Manufacturing production y/y +1.4% vs +1.2% expected
  • Prior y/y +3.5%; revised to +3.8%
  • Industrial production m/m -1.3% vs -0.9% expected
  • Industrial production y/y 0.0% vs +0.3% expected
  • Construction output m/m +1.6% vs -0.1% expected
  • Construction output y/y -0.2% vs -1.9% expected

The fall in industrial production was mainly due to mining and quarying, due to the closure of the Forties pipeline back in December here.

That is offset a little by the manufacturing data, but all in all, the ugliness of that industrial production drop seems to be the main focus on the release.

ONS also says that there is no impact to the Q4 GDP estimate from this set of industrial and construction data.

Not much reaction in sterling on the back of the data though. A slight drop in cable has seen it been overturned and it is up to 1.3957, from 1.3950 prior to the release of the data.