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UK factory output falls 0.2% in February; first drop in almost a year

British government bond futures briefly touched a session high after the data was released, while sterling slipped below $1.42

Reuters  |  London 

British manufacturing output fell unexpectedly in February, its first month-on-month drop in almost a year, adding to signs the economy may have slowed in the first quarter. The official data, released on Wednesday along with figures for overseas trade, also showed another sharp drop in construction output, defying expectations for a small rebound after a severe downturn in January. The pace of economic growth slowed slightly in 2017 as consumers suffered from higher inflation caused by a fall in sterling after June 2016's Brexit vote. Overall, Wednesday's data mostly ...

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First Published: Wed, April 11 2018. 17:11 IST