April 7, 2017 / 8:51 AM / 5 months ago

Sterling slips after weak industrial output data

LONDON, April 7 (Reuters) - Sterling fell to day’s lows on Friday, after data showed British industrial output fell unexpectedly, adding to signs economic growth may have slowed as Britain prepares to leave the European Union.

Industrial output fell 0.7 percent in February, worse than all forecasts in a Reuters poll of economists that pointed to a 0.2 percent increase and following a 0.3 percent decline in January.

Separate figures showed Britain’s goods trade deficit unexpectedly hit a five-month high in February and January’s deficit was revised up too, the Office for National Statistics said.

The pound, trading at $1.2460 before the data, fell to $1.2430, down 0.3 percent on the day. It was 0.2 percent lower at 85.50 pence per euro.

The FTSE 100 was broadly unchanged after the data. British 10-year government bond yields fell slightly and were down around 2 basis points on the day at 1.08 percent. (Reporting by Ritvik Carvalho; Additional reporting by Helen Reid; Editing by John Geddie)

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