UK manufacturing production arrives at 0.9% m/m in March, beats estimates
The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Friday, with the overall industrial activity showing a solid improvement in the month of March.
Manufacturing output arrived at 0.9% m/m in Mar versus 0.2% expectations and 1.0% (revised from 00.9%) booked in Feb, while total industrial output came in at 0.7% vs. 0.1% expected and 0.6% last.
On an annualized basis, the UK manufacturing production figures came in at 2.6% in Mar, beating expectations of 1.3% by a big margin. Total industrial output jumped by 1.3% in Mar, bettering expectations of a 0.5% reading and against the previous 0.4% (revised up from 0.1%) print.
Separately, the UK goods trade balance numbers were published, which arrived at GBP –13.650 billion in Mar, versus GBP -13.800 billion expectations and GBP -14.434 billion last. Total trade balance (non-EU) came in at GBP -4.361 billion in Mar versus GBP -6.217 billion previous.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
