The Forex Journal

(RTTNews) -Industrial production in the U.K. registered an unexpected decline at the start of the year, showing the first monthly fall since August 2009. Overall industrial production fell 0.4% in January from the prior month, data from the Office for National Statistics showed Wednesday. Economists were expecting a 0.3% growth for January after the 0.5% increase in December.

"Today's data mark an inauspicious start to 2010," said Colin Ellis, an economist at Daiwa Capital Markets Europe. Total production fared a little better than manufacturing as energy extraction and supply increased in January, the economist noted.

ONS data showed that mining and quarrying output rose 1.4% with an increase in oil and gas production output. Energy supply output was up 1.3% on the month.

Reversing a 0.9% monthly rise in December, manufacturing output recorded a decrease of 0.9% in January. That was also the largest fall since August 2009. Consensus forecast was for a 0.2% increase. Output decreased in 11 of the 13 sub-sectors and improved in only two sub-sectors.