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U.K. Industrial Production rose more than expected

Wednesday, Oct 07 2015
Total production output is estimated to have increased by 1.0% in August 2015 compared with July 2015, beating forecast on 0.5% incline. There were increases in 3 of its 4 main sectors, with the largest contribution coming from mining & quarrying, which increased by 6.0%. 
 
Manufacturing output increased by 0.5% in August 2015 compared with July 2015. Smaller increase 0.4% was expected. The main manufacturing components contributing to the growth were the manufacture of transport equipment; the manufacture of basic metals & metal products; and the manufacture of food, beverages & tobacco.
 
After the data Sterling was pushed higher and is currently being traded few points above 1.53 handle. Pair is likely to find support around 1.5250 area and resistance above 1.5350 level. There will be no major data releases later today.
More in this category: « German Industrial Production decreased by 1.2% U.S. Crude Oils inclined by 3.1 million barrels »

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