- Prior +0.1%
- Services +0.4% vs +0.1% m/m expected
- Prior +0.1%; revised to +0.2%
- Industrial output +0.5% vs +0.2% m/m expected
- Prior -0.4%; revised to -0.5%
- Manufacturing output +0.7% vs -0.1% m/m expected
- Prior -0.3%
- Construction output +1.5% vs +0.2% m/m expected
- Prior +0.4%; revised to +1.0%
It's a bit of a surprise but a welcome one surely for the BOE. In terms of individual contributions, it was mostly down to services (+0.32%) with production (+0.07%) only growing marginally while construction was down (-0.01%) despite higher output. All in all, it does put off stagflation concerns a bit but we'll see if this surprise can carry over into Q1.
