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Eurozone Industrial Production fell by 1.0%

In January 2018 compared with December 2017, seasonally adjusted industrial production fell by 1.0% in the euro area (EA19) and by 0.7% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In December 2017, industrial production rose by 0.4% in the euro area and by 0.3% in the EU28. In January 2018 compared with January 2017, industrial production increased by 2.7% in the euro area and by 3.0% in the EU28.

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UK Industrial Production increased less than expected

In the three months to January 2018, the Index of Production increased by 0.2% compared with the three months to October 2017, due to a rise of 0.9% in manufacturing; this was partially offset by a decrease of 6.4% in mining and quarrying, caused mainly by the shut-down of the Forties oil pipeline within December 2017. Total production output increased by 1.4% for the three months to January 2018 compared with the same three months to January 2017; manufacturing provided the largest upward contribution with an increase of 2.6%.

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UK Industrial Production down more than expected

In the three months to December 2017, the Index of Production was estimated to have increased by 0.5% compared with the three months to September 2017, due to a rise of 1.3% in manufacturing; this was partially offset by a decrease of 4.7% in mining and quarrying, caused mainly by the shut-down of the Forties oil pipeline for a large part of December 2017. Within manufacturing, 9 of the 13 manufacturing sub-sectors experienced growth; the largest contribution to quarterly growth came from basic metals and metal products, which increased by 5.7%.

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China's GDP grew by 6.8% in Q4

China’s economy grew faster than expected in the fourth quarter of 2017, as an export recovery helped the country post its first annual acceleration in growth in seven years, defying concerns that intensifying curbs on industry and credit would hurt expansion. The official growth figures released on Thursday are welcome news for Beijing policymakers who are looking to cut debt and pollution in older industries without stunting growth in the world’s second-largest economy.

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