Both industrial production and manufacturing showed good increases in February, 1% and 1.3% respectively, and both are showing decent 0.8% rises compared with the previous three months.
Perhaps most importantly, both point to a Q1 average significantly above the fourth quarter of 2009. Taken together with the British Chambers of Commerce survey and the service and manufacturing purchasing managers’ index numbers, a first-quarter double-dip looks to have been comfortably avoided. More here.
The Bank of England, as expected, did nothing, leaving Bank rate at 0.5%.
Originally published at David Smith’s EconomicsUK and reproduced here with the author’s permission.
Opinions and comments on RGE EconoMonitors do not necessarily reflect the views of Roubini Global Economics, LLC, which encourages a free-ranging debate among its own analysts and our EconoMonitor community. RGE takes no responsibility for verifying the accuracy of any
Comments are closed.