British industrial production fell at the fastest pace in 8 years

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British factory productivity fell in December at the fastest pace since 2012 with the impact due to the weak

global economy on demand, which in turn made companies shrink their stocks of goods that they produced in anticipation of the exit of the country from the European Union without

an agreement planned at the end of this month.

Factory productivity on the IHS Market UK purchasing managers' index fell to 45.6 from 49.1 in November, the lowest level since July 2012.

The broader index of purchasing managers, which includes the broadest production, employment, and supply orders, also fell to 47.5 from 48.9, which is a review of a slight increase

from an initial reading of 47.4, indicating the lowest level in four months.