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Uk Industrial Production Falls 0.2% In December

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Britain’s factories maintained their slow recovery in the runup to Christmas, but the rise in manufacturing output failed to offset falls in mining and energy, leaving industrial production down 0.2% in December.

Analysts blamed jitters over the eurozone’s return to health for keeping the UK’s productive sectors subdued, alongside a steep fall in oil and gas production in the North Sea brought on by the collapse in oil prices.

Over the past seven months oil prices have fallen by more than 50%, handing manufacturing businesses a large cut in production costs, but devastating the oil industry and North Sea production.

The net effect for the UK is positive after the country became a net importer of energy more than 10 years ago.

The Office for National Statistics (ONS) said the figures were slightly better than its initial estimates, which forecast a modest month-on-month fall in manufacturing output. However, the nudge higher in December was unlikely to be large enough to make an impact on the quarterly GDP figures.

ONS figures for the final month of 2014 showed that manufacturing, despite some ups and downs, grew by 0.1% between November and December, and by 2.4%. The broader measure of total industrial production increased by 1.4%.

Our manufacturing recovery goes from strength to strength.....

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Manufacturing grew, energy fell (and the impact of prices....?)

I don't see the bad news here. Can those who are much more excited about finding it please point it out?

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