UK manufacturing production rises 1.4% m/m in May, misses estimates
The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Wednesday, with the overall industrial activity showing a smaller-than-expected improvement in the month of May.
Manufacturing output arrived at +1.4% m/m in May versus +2.1% expectations and -4.2% booked in Apr, while total industrial output came in at +1.4% vs. +1.5% expected and -2.9% last.
On an annualized basis, the UK manufacturing production figures came in at 0.0% in May, missing expectations of +1.0% and -1.0% last. Total industrial output stood at +0.9% in May, missing expectations of a +1.1% reading and against the previous -1.1% print.
Separately, the UK goods trade balance numbers were published, which arrived at GBP – 11.524 billion in May versus GBP -12.550 billion expectations and GBP -12.761 billion last. Total trade balance (non-EU) came in at GBP -4.905 billion in May versus GBP -5.255 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.
