UK manufacturing production arrives at -0.7% m/m in Dec, a negative surprise
The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Monday, with the overall industrial activity showing terrible results in the month of December.
Manufacturing output arrived at -0.7% m/m in Dec versus 0.2% expectations and -0.1% (revised from -0.3%) booked in Nov, while total industrial output came in at -0.5% vs. 0.2% expected and -0.3% last.
On an annualized basis, the UK manufacturing production figures came in at -2.1% in Dec, missing expectations of -1.1% by a big margin. Total industrial output dropped further by -0.9% in Dec, missing expectations of a -0.5% reading and against the previous -1.3% (revised up from -1.5%) print.
Separately, the UK goods trade balance numbers were published, which arrived at GBP –12.100 billion in Dec, versus GBP -12.000 billion expectations and GBP -12.020 billion last. Total trade balance (non-EU) came in at GBP -3.600 billion in Dec versus GBP -3.925 billion previous.