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UK Industrial Production down 0.4%

Tuesday, Nov 08 2016
UK Industrial Production down 0.4%

Quarterly estimate for production output decreased by 0.5% in Quarter 3 (July to Sept) 2016. The largest downward pressure came from manufacturing, which fell by 0.9%, partially offset by a rise in mining and quarrying of 4.3%. The monthly picture shows a decrease of 0.4% compared with August 2016. Mining and quarrying was the main sector to show a fall of 3.8%, partially offset by an increase in manufacturing of 0.6%. Users should note that we always warn against overly interpreting 1 month's figures.

The month-on-month a year ago picture shows an increase of 0.3% in September 2016 with upward increases from 3 of the 4 main sectors. The largest contribution came from water and waste management, 5.4%. In the 3 months to September 2016, production and manufacturing were 7.9% and 5.5% respectively below their level reached in the pre-downturn GDP peak in Quarter 1 (Jan to Mar) 2008.

 

Sterling is currently being traded around 1.24 handle. Pair is likely to find support around 1.2350 area and resistance above 1.2450 level.

More in this category: « German Industrial Production fell by 1.8% In September 5.49 million job openings »

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