UK Manufacturing Production jumps by 2.1% MoM in March vs. 1.0% expected

Dhwani Mehta FXStreet

The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Wednesday, suggesting that Britain’s industrial sector is well on the recovery path after a covid lockdown-induced hit.

Manufacturing output arrived at 2.1% MoM in March versus 1.0% expectations and 1.5% booked in February while total industrial output came in at 1.8% vs. 1.0% expected and 1.0% last.

On an annualized basis, the UK manufacturing production figures came in at 4.8% in March, beating expectations of 3.7%. Total industrial output rebounded by 3.6% in March, against a 2.9% reading expected and the previous -3.5% print.

Separately, the UK goods trade balance numbers were published, which arrived at GBP-11.71 billion in March versus GBP-14.40 billion expectations and GBP-16.442 billion last. Total trade balance (non-EU) came in at GBP-6.548 billion in March versus GBP-15.407 billion expected.

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