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March 10, 2011    

UK manufacturing output recovers in January

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by Kay Murchie

The Office for National Statistics (ONS) has today revealed UK manufacturing output bounced back in January after December’s weather related fall.

According to the ONS, manufacturing output rose 1% in January - its fastest monthly pace in 10 months.

It also beat analysts expectations who forecast a rise of 0.8%.

In the meantime, output was 6.8% higher in January on an annual basis - this represented the fastest annual rise since November 1994. It also exceeded analysts forecasts of a 6.5% rise on the year.

Overall industrial production, which also includes utilities, mining and quarrying, rose 0.5%.

Manufacturing accounts for around 13% of economic output.

Today’s figures suggest that the economy is recovering from the 0.6% contraction in the fourth quarter of 2010 but are likely to lead the Bank of England’s Monetary Policy Committee to leave interest rates on hold today.

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