U.K. manufacturing production grows below expectations in November

Source: Reuters
Industrial output of the British economy rose below economists expectation by 0.3% in November, despite growing gas and oil extraction on the largest British North Sea field, which underline the fact the U.K. economy contracted in the Q4. Manufacturing production decreased 0.3% in the same month compared to prior expectation of 0.5% gain, following a 1.3% fall recorded in October.

"It's a disappointing set of data. We had thought that we might see a bounce back in manufacturing output over the month, but what we saw instead was a further contraction," said Philip Shaw, an economist with Investec in London. "Most of the official data are suggesting weakness over the fourth quarter."

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