UK Manufacturing Production rebounds 0.3% MoM in Dec vs. +0.5% expected
The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Tuesday, with the overall industrial activity sinking further into contraction in December.
Manufacturing output arrived at +0.3% MoM in December versus +0.5% expectations and -1.6% booked in December, while total industrial output came in at +0.1% vs. +0.3% expected and -1.1% last.
On an annualized basis, the UK manufacturing production figures came in at -2.5% in December, missing expectations of -1.0%. Total industrial output dropped by 1.8% in December, against a -0.8% reading expected and the previous -1.6% print.
Separately, the UK goods trade balance numbers were published, which arrived at GBP 0.845 billion in Dec, versus GBP -10.00 billion expectations and GBP -4.947 billion last. Total trade balance (non-EU) came in at GBP 6.721 billion in Dec versus GBP 2.364 billion previous.
FX Implications
The GBP/USD pair shows little reaction to the mixed UK growth and industrial numbers. The spot holds on to the previous gains around 1.2930, having reached daily highs at 1.2942 pre-data release.
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.
