Thursday, February 10, 2011

Good end-of-year production numbers for the UK

Nothing to worry about; the UK economy is still in recovery mode. The q4 GDP number, which showed a 0.5 percent decline in activity, was almost certainly a blip.

Today, the ONS printed the December production index numbers. They looked pretty good to me.

Here are the highlights:
  • Year on year, overall production output in December 2010 was 3.6 per cent higher than in December 2009.
  • Total manufacturing output increased by 4.4 per cent in December 2010 compared to the same month a year ago.
  • Output increased in nine of the 13 sub-sectors and fell in four sub-sectors.

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