UK Manufacturing Production arrives at -1.7% MoM in Nov vs. -0.3% expected


The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Monday, with the overall industrial activity witnessing further deterioration in November.

Manufacturing output arrived at -1.7% MoM in November versus -0.3% expectations and +0.5% booked in October, while total industrial output came in at -1.2% vs. -0.1% expected and +0.4% last.

On an annualized basis, the UK manufacturing production figures came in at -2.0% in November, beating expectations of -1.7%. Total industrial output dropped by 1.6% in November, against a -1.4% reading expected and the previous -0.6% print.

Separately, the UK goods trade balance numbers were published, which arrived at GBP -5.256 billion in Nov, versus GBP -11.700 billion expectations and GBP -10.947 billion last. Total trade balance (non-EU) came in at GBP 1.734 billion in Nov versus GBP -2.587 billion previous.

FX Implications 

The GBP/USD pair saw good two-way moves, as it fell nearly 30-pips from just below the 1.30 handle to 1.2968 lows on the UK GDP disappointment. The spot now wavers around 1.2975, still down -0.65% on the day.  

 

 

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