UK factory output drops unexpectedly in Feb for 1st time in nearly a year

London: British manufacturing output fell unexpectedly in February, its first drop in almost a year, according to official figures that added to signs the economy may have slowed in the first quarter. Manufacturing output, which was a bright spot last year thanks to the strong global economy, fell 0.2 per cent month-on-month in February after a downward revision showed it stagnated in January, the Office for National Statistics said. The data, released on Wednesday along with figures for overseas trade, also showed another sharp drop in construction output, defying expectations for a small rebound after a severe downturn in January. The pace of economic growth slowed slightly in 2017 as higher inflation caused by the fall in sterling after the Brexit vote hurt consumers, although some exporters have gained from the weaker pound and the stronger Eurozone economy.