The FTSE 100 is subdued in trading today (January 11th) after manufacturing output fell unexpectedly.
Fresh data from the Office of National Statistics (ONS) shows UK factory production declined by 0.3 per cent in November compared to the previous month, indicating continued weakness in the British economy.
This is despite a recent run of positive data and came as a surprise to investors and economists in the markets today.
The ONS said production including the energy supply and mining sectors fell by 1.9 per cent in the three months to November when compared with the previous quarter, while manufacturing sank by 0.7 per cent in this timeframe.
Over 2012 as a whole, production was down by 2.4 per cent, which will not help the growing uncertainty as to whether the government can avert a triple-dip recession in 2013.
At 11:45 GMT, the FTSE 100 was steady, making marginal 5.6-point gains to an index value of 6107.1 points.
Find spread betting strategies for the FTSE 100 at City Index.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.