Total production output is estimated to have increased by 2.1% between Quarter 1 (Jan to Mar) 2016 and Quarter 2 (Apr to Jun) 2016. This increase was unchanged from the forecast contained within the Gross domestic product, preliminary estimate: Apr to June 2016. Hence there is no impact on the previously published GDP estimate for Quarter 2 (Apr to Jun) 2016. The largest contribution to the quarterly increase in total production came from manufacturing, which increased by 1.8%. The largest contribution to the increase in manufacturing came from the manufacture of transport equipment, which increased by 5.6%.
Total production output is estimated to have increased by 1.6% in June 2016 compared with June 2015. There were increases in all of the main sectors, with the largest contribution coming from manufacturing (the largest component of production), which increased by 0.9%. Total production output is estimated to have increased by 0.1% in June 2016 compared with May 2016. There were increases in 3 of the 4 main sectors, with the only downward contribution coming from manufacturing, which decreased by 0.3%. There were decreases in 9 of the 13 manufacturing subsectors, with the largest contribution coming from the manufacture of transport equipment, which decreased by 1.0%.
Sterling is currently being traded below 1.30 handle. Pair is likely to find support around 1.2950 handle and resistance above 1.3050 level.
