UK Industrial Production increased by 0.5% in March

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Tuesday, May 12 2015

The seasonally adjusted UK industrial production index increased by 0.5% between February 2015 and March 2015. Analysts were predicting no change. This reflects increases of 2.6% in mining & quarrying and 0.4% in manufacturing, also above expected increase by 0.3%. In contrast, electricity, gas steam & air conditioning sector output decreased by 1.1% and water supply, sewerage & waste management output decreased by 0.3%.

Furthermore, index increased by 0.7% between March 2014 and March 2015. This increase reflects rises of 1.1% in manufacturing and 4.9% in the electricity, gas, steam & air conditioning sector. The rises were partially offset by decreases of 2.6% in mining & quarrying and 0.8% in the water supply, sewerage & waste management sector.

After the data Sterling was pushed higher and is currently being traded few points above 1.56 handle. Pair is likely to find support around 1.5550 area and resistance near 1.5660 level. Later today, in the US session, JOLTS Job Openings figures are scheduled for a release.

More in this category: « Australian Home Loans rose more than expected Four scenarios for Greece »

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