Finance

UK Manufacturing Production rises 0.2% MoM in June vs. 0.4% expected

The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Thursday, suggesting that Britain’s industrial sector recovery is on a steady recovery path.

Manufacturing output arrived at 0.2% MoM in June versus 0.4% expectations and 0.1% booked in May while total industrial output came in at 0.7% vs. 0.3% expected and 0.6% last.

On an annualized basis, the UK manufacturing production figures came in at 13.9% in June, missing expectations of 13.5%. Total industrial output jumped by 8.3% in the sixth month of the year against a 9.4% reading expected and the previous 20.7% print. 

Separately, the UK goods trade balance numbers were published, which arrived at GBP-11.988 billion in June versus GBP-9.1 billion expectations and GBP-9.601 billion last. Total trade balance (non-EU) came in at GBP-7.095 billion in June versus GBP-5.976 billion previous.

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View more information: https://www.fxstreet.com/news/uk-manufacturing-production-rises-02-mom-in-june-vs-04-expected-202108120612

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