The price of goods bought and sold by UK manufacturers, as estimated by the producer price index, continued to fall in the year to October 2015. Crude oil continued to drive down input prices, feeding through to a drop in output prices of petroleum products. Factory gate prices (output prices) for goods produced by UK manufacturers fell 1.3% in the year to October 2015, compared with a fall of 1.8% in the year to September 2015.
Focus of the Thurday's session was on U.K. Retail Sales data. Year-on-year estimates in the quantity bought in the retail industry show growth for the 30th consecutive month in October 2015, increasing by 3.8% compared with October 2014. The underlying pattern in the data, as suggested by the 3 month on 3 month movement in the quantity bought, showed growth for the 23rd consecutive month, increasing by 0.9%.Compared with September 2015, the quantity bought in the retail industry is estimated to have decreased by 0.6%. Analysts were expecting 0.4% decline.
From the UK Public Sector Net Borrowing figures were released on Friday. Public sector net borrowing excluding public sector banks decreased by £6.6 billion to £54.3 billion in the current financial year-to-date (April 2015 to October 2015) compared with the same period in 2014. In October public sector net borrowing amounted £7.5 billion, missing forecasts on decline in deficit to £5.5 billion.
Next week markets will be looking at:
Second Estimate GDP (Thursday 10:30)
Last modified on Friday, 20 November 2015
