Biggest UK industry contraction since 2013

In figures released yesterday by the Office for National Statistics (ONS), UK industrial production fell by 1.1% in December compared to November, and November's fall was revised from 0.7% to 0.8%

Additionally, total production output was 0.5% lower in the 4th quarter compared to the 3rd quarter. This was caused mostly by contractions in mining and quarrying as a result of low commodity prices, though manufacturing was flat over the same period

The figures come just after the poor purchasing managers' indices, reinforcing the fear that the UK may be entering a difficult period, and that many UK companies are being cautious or delaying investment plans - many want to get the result of the EU referendum out of the way before deciding whether to commit to projects