UK Manufacturing Production rises 1.3% MoM in February vs. -0.8% expected
The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Tuesday, suggesting that Britain’s industrial sector is looking to emerge out of the damage caused by the covid-induced lockdowns.
Manufacturing output arrived at 1.3% MoM in February versus -0.8% expectations and -1.8% booked in January while total industrial output came in at 1.0% vs. 0.5% expected and -1.8% last.
On an annualized basis, the UK manufacturing production figures came in at -4.2% in February, beating expectations of -5.1%. Total industrial output dropped by 3.5% in February, against a -4.4% reading expected and the previous -4.3% print.
Separately, the UK goods trade balance numbers were published, which arrived at GBP-16.442 billion in February versus GBP-10.60 billion expectations and GBP-12.592 billion last. Total trade balance (non-EU) came in at GBP-10.728 billion in February versus GBP-3.50 billion expected.
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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.
