UK Manufacturing Production drops sharply by 0.7% MoM in August, a big miss
|The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Thursday, with the overall industrial activity witnessing a sharper-than-expected downturn in August.
Manufacturing output arrived at -0.7% MoM in August versus 0.0% expectations and +0.4% booked in July, while total industrial output came in at -0.6% vs. -0.1% expected and +0.1% last.
On an annualized basis, the UK manufacturing production figures came in at -1.7% in August, beating expectations of -0.7%. Total industrial output dropped by 1.8% in August, against a -0.9% reading expected and the previous -1.1% print.
Separately, the UK goods trade balance numbers were published, which arrived at GBP -9.806 billion in August, versus GBP -10.00 billion expectations and GBP -9.625 billion last. Total trade balance (non-EU) came in at GBP -2.206 billion in August versus GBP -2.540 billion previous.
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