Friday, February 06, 2009
Industrial output down, prices still up
Posted by David Smith at 10:15 AM
Category: Thoughts and responses

Manufacturing output slumped again in December, falling by 2.2% on the month and by 10.2% on a year earlier. Total industrial production fell 1.7% and 9.4% respectively. The carnage in industrial production is a global phenomenon, but that is of small comfort. More details here.

Meanwhile, we are still waiting for deflation in the producer price data, partly because of the weakness of sterling. Overall output prices rose by 0.1% between December and January and the 'core' rate was up 0.4%. Output prices were 3.5% up on a year earlier. Input prices rose by 1.5% in January, for an increase of 2.3% on a year earlier. More here.