UK manufacturing production drops 0.9% MoM in Oct, a big miss
The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Monday, with the overall industrial activity showing disappointing results in the month of October.
Manufacturing output arrived at -0.9% m/m in Oct versus 0.0% expectations and 0.2% booked in Sept while total industrial output contracted 0.6% in the reported month.
On an annualized basis, the UK manufacturing production figures came in at -1.0% in Oct, way below expectations of 0.0%. Total industrial output dropped -0.8% in Oct, missing expectations of a -0.2% reading and against the previous 0.0% print.
Separately, the UK goods trade balance numbers were published, which arrived at GBP – 11.873 billion in Oct, versus GBP -10.50 billion expectations and GBP -10.681 billion last. Total trade balance came in at GBP -3.30 billion in Oct versus GBP -2.231 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.
