UK manufacturing production surged by 0.7% - TDS

Research Team at TDS, notes that the UK manufacturing production posted a gain of 0.7% m/m, against market expectations for a slight 0.2% gain, and marking the first gain in four months.

Key Quotes

“Strength in the month was fairly broad-based across components, with the pharmaceutical and refined petroleum categories the main drag. Broader IP growth measured 0.3% m/m. Electricity and gas production was one of the key positive contributors, reflecting stronger utilities output as the weather cooled down from a warm December to more seasonal January temps.”