UK Manufacturing Production arrives at 0.2% MoM in Oct vs. 0.0% expected
|The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Tuesday, with the overall industrial activity witnessing deterioration in October.
Manufacturing output arrived at +0.2% MoM in October versus 0.0% expectations and -0.4% booked in September, while total industrial output came in at +0.1% vs. +0.2% expected and -0.3% last.
On an annualized basis, the UK manufacturing production figures came in at -1.2% in October, beating expectations of -1.4%. Total industrial output dropped by 1.3% in October, against a -1.2% reading expected and the previous -1.4% print.
Separately, the UK goods trade balance numbers were published, which arrived at GBP -14.486 billion in Oct, versus GBP -11.650 billion expectations and GBP -11.521 billion last. Total trade balance (non-EU) came in at GBP -5.729 billion in Oct versus GBP -2.952 billion previous.
The GBP/USD pair shrugged-off downbeat UK growth numbers and cheered the above-forecasts British Manufacturing Production data. The spot spiked to 1.3174 a few minutes after the data release before reversing to near 1.3160, where it now wavers.
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