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.
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
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.