U.K. industrial output contracted in November

Note: This section contains information in English only.
Source: Dukascopy Bank
© Dukascopy Bank
"There isn't very much that's performing well in the UK economy"
- Philip Shaw, chief economist at Investec

U.K. industrial output decreased 0.6% in November, said the Office for National Statistics on Wednesday, intensifying worries over the strength of the economy.

"A probable sharp decline in industrial production in the fourth quarter obviously fuels concern that the overall economy contracted," said Howard Archer, chief economist at research firm IHS Global Insight.

"Although it needs to be borne in mind that industrial production only accounts for 15.4% of GDP."

"We've been suggesting that the UK will be in recession at the start of this year, but it may have started even earlier," said Philip Shaw, UK chief economist at Investec.

"There isn't very much that's performing well in the UK economy."

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