UK Manufacturing Production drops 1.6% MoM in June vs. -1.8% expected
The industrial sector recovery dwindled in June, the latest UK industrial and manufacturing production data published by Office for National Statistics (ONS) showed on Friday.
Manufacturing output arrived at -1.6% MoM in June versus -1.8% expectations and 1.7% booked in May while total industrial output came in at -0.9% vs. -1.3% expected and 2.6% last.
On an annualized basis, the UK manufacturing production figures came in at 1.3.% in June, beating expectations of 0.9%. Total industrial output rose by 2.4% in the sixth month of the year against a 1.6% reading expected and the previous 1.8% print.
Separately, the UK goods trade balance numbers were published, which arrived at GBP-22.847 billion in June versus GBP-22.3 billion expectations and GBP-20.666 billion last. The total trade balance (non-EU) came in at GBP-12.29 billion in June versus GBP-9.603 billion previous.
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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.
