OctaFX | OctaFX Forex Broker
Open trading account
Back

UK: Annual Industrial Production dips 2.2% in February

FXstreet.com (Barcelona) - Year-over-year UK Industrial Production fell by 2.2% in February, following a 3.1%% drop in January, National Statistics informed on Tuesday. This is a more positive result that the forecasted 2.8% decrease. UK Industrial Production rose by 1% between January 2013 and February 2013, in comparison with the 1.3% decline registered between December 2012 and January 2013 and above expectations of a 0.3% rise.

On an annual basis UK Manufacturing Production fell by 1.4% in February, after decreasing 3.3% in January and slightly above expectations of a 1.5% decline. Between January 2013 and February 2013 UK Manufacturing Production rose 0.8%, following a 1.9% drop between December 2012 and January 2013 and exceeding market consensus of 0.3% growth.

James Knightley from ING comments: “With the UK’s largest oil and gas field coming back on-stream in March, likely leading to another positive gain in output, we are more optimistic that the UK can avoid its third technical recession in five years.”

Forex: GBP/JPY recovers the mark of 151.33/41

The GBP/JPY has edged higher in recent moments, paring the majority of its losses from the 150.56 level (session low). Following the publication of a recent tranche of economic indicators out of the United Kingdom, the pair has recovered the mark of 151.33/41 at the time of writing during European trading, operating just -0.08% today.
Read more Previous

Forex: EUR/GBP dips to lows after UK data

The pair dropped to the vicinity of 0.8510 after the sterling found buying interest on the upbeat data from the industrial sector in the British economy during February. The industrial production expanded...
Read more Next
Start livechat