FXstreet.com (Barcelona) - Month-over-month UK Industrial production declined by 0.5% in August, while manufacturing output fell by 1.1%, data released by National Statistics showed on Tuesday. In the opinion of Caroline Newhouse, Senior Economist at BNP Paribas, the results of the survey suggest that “manufacturing output has not bottomed up in September yet.”
Nevertheless, the expert believes that in the short term there is a positive side to this outcome “as the new orders index, one of the leading indicators of the survey, increased in September, up from 50.2 in August to 50.6 thus remaining a few inches above the 50-threshold for the second month in a row.”
Nevertheless, the expert believes that in the short term there is a positive side to this outcome “as the new orders index, one of the leading indicators of the survey, increased in September, up from 50.2 in August to 50.6 thus remaining a few inches above the 50-threshold for the second month in a row.”
