UK Industrial Production up more than expected

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Wednesday, Jun 10 2015

The seasonally adjusted index of production in UK increased by 1.2% between April 2014 and April 2015. This increase mainly reflects a rise of 6.2% in mining & quarrying. There were increases of 2.2% in the water supply, sewerage & waste management sector; 0.2% in manufacturing; and 0.6% in the electricity, gas, steam & air conditioning sector.

The seasonally adjusted index increased by 0.4% between March 2015 and April 2015, thus beating expectations on 0.2% incline. This reflects increases of 5.6% in mining & quarrying and 0.9% in water supply, sewerage & waste management. Partially offsetting these increases were decreases of 0.4% in manufacturing and 3.3% in the electricity, gas steam & air conditioning sector. Analysts were anticipating 0.1% increase in manufacturing.

Data did not have major impact on the markets, with Sterling remaining higher currently being traded around 1.5440 area. Pair is likely to find support around 1.5350 area and resistance near 1.55 level. There will be no major data releases in the rest of the session.

More in this category: « Westpac Consumer Sentiment fell by 6.9% Industrial Production fell both in France and Italy »

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