UK Manufacturing Production plummets 24.3% MoM in April vs. -15.8% expected

Dhwani Mehta FXStreet

The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Friday, as the overall industrial sector contraction deteriorated sharply in April.

Manufacturing output arrived at -24.3% MoM in April versus -15.8% expectations and -4.6% booked in March, while total industrial output came in at -20.3% vs. -15.0% expected and -4.2% last.

On an annualized basis, the UK manufacturing production figures came in at -28.5% in April, missing expectations of -19.9%. Total industrial output plunged 24.4% in April, against a -19.3% reading expected and the previous -8.2% print.

FX implications

The GBP/USD pair challenges daily highs despite the terrible UK growth and industrial numbers, flirting with 1.2600.

Breaking: UK GDP shrinks -20.4% MoM in April vs. -18.4% expected, GBP/USD unfazed

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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