UK: Annual Industrial Production tumbles 2.9% in January

Year-over-year UK Industrial Production fell by 2.9% in January, following a 2.1% drop in December, National Statistics informed on Tuesday. Analysts forecasted less decline of 1.1%. UK Industrial Production slid by 1.2% between December 2012 and January 2013, in comparison with the 1.1% increase registered between November 2012 and December 2012 and against expectations of a 0.1% rise.

On an annual basis UK Manufacturing Production fell by 3% in January, after decreasing 1.6% in December and below expectations of a 1.1% decline. Between December 2012 and January 2013 UK Manufacturing Production dropped 1.5%, following 1.5% growth between November 2012 and December 2012 and against market consensus of no change.