UK Industrial Production increased by 2.0% in May

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Wednesday, Jun 08 2016

Total production output is estimated to have increased by 1.6% in April 2016 compared with April 2015. There were increases in all 4 main sectors, with the largest contribution coming from manufacturing (the largest component of production), which increased by 0.8%. The largest contribution to the increase in manufacturing came from the manufacture of basic pharmaceutical products & pharmaceutical preparations, which increased by 12.5%, the largest rise since April 2009.

Total production output is estimated to have increased by 2.0% in April 2016 compared with March 2016. No change was expected. There were increases in 3 of the 4 main sectors, with the largest contribution coming from manufacturing, which increased by 2.3%, the largest rise since July 2012. The largest contribution to the increase in manufacturing came from the manufacture of basic pharmaceutical products & pharmaceutical preparations, which increased by 8.6%, the largest rise since February 2014.

Sterling is currently being traded few points above 1.4550 level. Pair is likely to find support around 1.45 handle and resistance above 1.4580 level. There will be no major data releases later today.

Last modified on Wednesday, 08 June 2016

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