UK Manufacturing Production drops unexpectedly by 0.1% MoM in May

Dhwani Mehta FXStreet

The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Friday, suggesting that Britain’s industrial sector recovery appears in the doldrums.

Manufacturing output arrived at -0.1% MoM in May versus 1.0% expectations and 0% booked in April while total industrial output came in at 0.8% vs. 1.5% expected and -1.0% last.

On an annualized basis, the UK manufacturing production figures came in at 27.7% in May, missing expectations of 29.5%. Total industrial output jumped by 20.6% in the fifth month of the year against a 21.6% reading expected and the previous 27.2% print.

GBP/USD: Diminished odds for a move below 1.3735 – UOB

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.

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