Wednesday's session was marked by UK Industrial Production data. 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.
Thursday's session only brought UK Goods Trade Balance data. The UK’s deficit on trade in goods and services was estimated to have been £3.3 billion in April 2016, a narrowing of £0.2 billion from March 2016. Both exports and imports increased and the narrowing of the deficit reflects a greater increase in exports than imports. The deficit on trade in goods was £10.5 billion in April 2016; narrowing by £0.1 billion from March 2016. This narrowing reflected an increase in exports (up £2.2 billion to £26.1 billion) and an increase in imports (up £2.0 billion to £36.6 billion).
This week markets will be looking at:
CPI/PPI (Tuesday 10:30)
Claimant Count Change/Unemployment Rate (Wednesday 10:30)
Retail Sales (Thursday 10:30)
Official Bank Rate/BoE Meeting Minutes (Thursday 13:00)
