UK industrial output rose by just 0.1% in February from January hurt by a sharp fall in oil and gas output, according to the latest figures from the Office for National Statistics (ONS). The small increase was below analysts’ forecasts of a 0.3% gain.
Oil and gas production fell sharply. The construction output fell by 0.9% in February, despite forecasts of a 2.0% rise, according to the official figures.
The best growth within the industrial output measure was seen in manufacturing with a rise of 0.4% amid higher car output.
The figures suggest the UK’s economy has slowed down this year after showing a strong growth of 2.8% in 2014.