UK Manufacturing Production plunges 4.6% MoM in March vs. -6.0% expected

Dhwani Mehta FXStreet

The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Wednesday, as the overall industrial sector contraction deepened in March.

Manufacturing output arrived at -4.6% MoM in March versus -6.0% expectations and +0.5% booked in February, while total industrial output came in at -4.2% vs. -5.6% expected and +0.1% last.

On an annualized basis, the UK manufacturing production figures came in at -9.7% in March, beating expectations of -10.4%. Total industrial output plunged 8.2% in March, against a -9.3% reading expected and the previous -2.8% print.

FX implications

The GBP/USD pair challenges daily highs on the upbeat UK growth and industrial numbers, looking to extend the bounce from three-week lows of 1.2251. The spot trades 0.18% higher at 1.2280, at the press time.

Breaking: UK GDP contracts -2.0% QoQ in Q1 vs. -2.5% 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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