Manufacturing Rebounds in Jan Despite Car...>

UK DATA: Manufacturing Rebounds in Jan Despite Car Production Plunge

- UK Jan Manufacturing +0.7% m/m; car output -2.3%

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Manufacturing output broke a six-month run of declines, lifted by a 

5.7% jump in pharmaceutical output. National Statisticians would not 

rule out Brexit-related stockpiling by foreigners, but thought it 

"unlikely."  Auto output fell by another 2.3% between December and 

January, but rose 4.0% on a rolling three-month basis. Nonetheless, 

motor vehicle production has slumped by 7.2% from its recent peak in Q1 

2017. Total industrial production rose by 0.6% in December, adding 0.09 

percentage points to monthly GDP growth of 0.5%, but fell by 0.8% on a 

rolling three-month basis, the third straight decline.