UK manufacturing production rebounds to 0.4% m/m in May, misses estimates
The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Tuesday, showing that the overall industrial activity report disappointed markets in the month of May.
Manufacturing output arrived at 0.4% m/m in May versus 0.9% expectations and -1.3% (revised higher from -1.4%) booked in April, while total industrial output declined to -0.4% in the reported month, against a 1.0% contraction seen previously.
On an annualized basis, the UK manufacturing production figures came in at 1.1% in May, missing expectations of 1.9%. Total industrial output also increased by 0.8% in May, below expectations of a 1.9% reading and against the previous 1.6% (revised lower from 1.8%) print.
Separately, the UK goods trade balance numbers were published, which arrived at GBP -12.36 billion in May, versus GBP -12.00 billion expectations and GBP -12.40 billion last. Total trade balance came in at GBP -2.79 billion in May versus GBP -3.087 billion previous.
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.
