UK manufacturing production contracts by -0.2% m/m in August, industrial production beats estimates

The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Monday, showing that the overall industrial activity had a mixed performance in the month of August.

Manufacturing output contracted by -0.2% m/m in August versus 0.1% expected growth and an upwardly revised flat reading in July. Meanwhile, total industrial output rose 0.2% in the reported month as against an upwardly revised growth of 0.4% seen in the previous month.

On an annualized basis, the UK manufacturing production figures came in at 1.3% in August, beating expectations of 1.1% growth, and total industrial output also bettered expectations and expanded by 1.3% in August as against previous month's 1.0% print.

Separately, the UK goods trade balance numbers were published, which showed a larger than expected deficit of £11.2 billion in August, versus a deficit of £10.90 billion anticipated and £10.39 billion previous. Total trade deficit came in at £1.274 billion in August, up from £0.572 billion previous and £1.15 billion expected.