UK manufacturing and construction output both to rise

UK Manufacturing output has been highly erratic on a month to month basis with a fall of 0.5% mom in January after increases of 0.8% in November but only 0.1% in December. 

"Both the PMI and CBI manufacturing surveys point to a rebound in output in February so we expect an increase of 0.6%", says Societe Generale.

Construction output seems to be on a downward trend, even though the PMI shows only a deceleration in a still-positive growth trend. 

"Nevertheless, especially given the buoyancy of construction expectations, we expect a bounce of 1.5% mom in February", added Societe Generale.