UK industrial production came in weaker than expected - TDS

Research Team at TDS, notes that the UK’s March industrial production came in weaker than expected at 0.3% m/m.

Key Quotes

“The manufacturing component rose by just 0.1%, confirming our downside bias. Today’s release doesn’t really provide much new information on the headline number – we already had the 16Q1 figure for IP in the GDP report two weeks ago. But the monthly dynamics help shape momentum heading into Q2 and the downside risks we worried about confirm that Q2 is likely to crawl to a standstill on uncertainty around the upcoming EU Referendum.”