U.K. industrial production declines 0.3% in February

The Office for National Statistics (ONS) released its manufacturing and industrial production figures for the U.K. on Friday. Industrial production in the U.K. fell 0.3% in February, missing forecasts of a 0.1% increase, after a 0.2% rise in January. January's figure was revised down from a 0.3% gain.

The decrease was mainly driven by a decline in the manufacturing output.

On a yearly basis, industrial production in the U.K. decreased 0.5% in February, missing expectations for a flat reading, after a 0.1% increase in January. It was the largest decline since August 2013.

January's figure was revised down from a 0.2% rise.

The decline was driven by a drop in the manufacture of machinery & equipment, which slid 10.6% year-on-year in February.

Manufacturing production in the U.K. dropped 1.1% in February, missing expectations for a 0.2% fall, after a 0.5% gain in January. January's figure was revised down from a 0.7% increase.

The decline was driven by a fall in in the manufacture of transport equipment, which decreased 2.9% in February.

Manufacturing output was mainly driven by a rise in other manufacturing and repair, which climbed by 4.8% in January.

On a yearly basis, manufacturing production in the U.K. decreased 1.8% in February, missing forecast of a 0.7% fall, after a 0.3% drop in January. It was the largest decrease since July 2013.

January's figure was revised down from a 0.1% decline.