Wednesday, April 6, 2011

Sterling hit by surprise fall in UK industrial output

Office for National Statistics shows British industrial production was down by 1.2% in February

A surprise fall in industrial production wiped half a cent off the value of the pound on Wednesday morning, as the chances of an early interest rate rise receded further.

British industrial output was down by 1.2% in February, figures from the Office for National Statistics showed. The fall was prompted by a big drop in oil and gas production due to maintenance work. The index of manufacturing

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