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Economy
In reply to the discussion: STOCK MARKET WATCH -- Friday, 11 January 2013 [View all]xchrom
(108,903 posts)17. UK industrial production growth weaker than forecast
http://www.guardian.co.uk/business/2013/jan/11/uk-industrial-production-growth-weak-recession
UK industry posted sluggish growth in November, renewing fears that the economy shrank in the final quarter and pushing Britain towards an unprecedented triple-dip recession.
Manufacturing output dropped 0.3% in November, after a fall of 1.3% in October, according to the Office for National Statistics.
The wider reading of industrial output also including output from the energy and mining sectors grew by 0.3% following a sharp decline in October, which was revised down further on Friday to -0.9%. November's figures were boosted by an 11.3% jump in oil and gas output the biggest increase since 1968 after maintenance of the Buzzard North Sea oil field was completed.
But both manufacturing and industrial production missed expectations, with analysts hoping for rises of 0.5% and 0.8% respectively.
UK industry posted sluggish growth in November, renewing fears that the economy shrank in the final quarter and pushing Britain towards an unprecedented triple-dip recession.
Manufacturing output dropped 0.3% in November, after a fall of 1.3% in October, according to the Office for National Statistics.
The wider reading of industrial output also including output from the energy and mining sectors grew by 0.3% following a sharp decline in October, which was revised down further on Friday to -0.9%. November's figures were boosted by an 11.3% jump in oil and gas output the biggest increase since 1968 after maintenance of the Buzzard North Sea oil field was completed.
But both manufacturing and industrial production missed expectations, with analysts hoping for rises of 0.5% and 0.8% respectively.
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