UK Manufacturing Production rises by 0.5% MoM in Feb vs. +0.1% expected
The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Thursday, with the overall industrial activity bettering expectations in February.
Manufacturing output arrived at +0.5% MoM in February versus +0.1% expectations and +0.2% booked in January, while total industrial output came in at +0.1% vs. +0.1% expected and +0.2% last.
On an annualized basis, the UK manufacturing production figures came in at -3.9% in Feb, beating expectations of -4.0%. Total industrial output dropped by 2.8% in Feb, against a -2.9% reading expected and the previous -2.9% print.
Separately, the UK goods trade balance numbers were published, which arrived at GBP -11.487 billion in Feb, versus GBP -6.00 billion expectations and GBP -5.759 billion last. Total trade balance (non-EU) came in at GBP -5.573 billion in Feb versus GBP 0.215 billion previous.
FX implications
The GBP/USD pair flirts with lows near 1.2370 on mixed UK data flow, as the focus remains on the UK PM Boris Johnson’s health condition and coronavirus stats for fresh directives.
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.
