ML-Implode News - U.K. Industrial Output Plunges Most in Almost Three Years

U.K. industrial production fell the most in almost three years in November as warmer-than-usual weather reduced energy demand. Output dropped 0.7 percent from the previous month, with electricity, gas and steam dropping 2.1 percent, the Office for National Statistics said in London on Tuesday. Economists had forecast no growth on the month.
The data highlight the uncertain nature of U.K. growth, which remains dependent on domestic demand and services. After stagnating in October and falling in November, industrial production will have to rise 0.5 percent to avoid a contraction in the fourth quarter. Hindering thatÂ by curtailing export sales is the level of sterling, which, despite falling since mid-November on a trade-weighted basis, is still about 15 percent higher than March 2013.

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U.K. Industrial Output Plunges Most in Almost Three Years