The United Kingdom’s (UK) industrial sector activity showed a modest deceleration in July, the latest data published by the Office for National Statistics (ONS) showed on Wednesday.
Manufacturing output dropped 0.8% MoM in July versus -1.0% expected and 2.4% seen in June while total industrial output came in at -0.7% MoM vs. -0.6% expected and 1.8% prior.
Annually, the UK Manufacturing Production data rose 3.0% in July, beating expectations of 2.7%. Total Industrial Output increased 0.4% in the seventh month of the year, missing the 0.5% expected growth and down from the previous reading of 0.7%.
Separately, the UK goods trade balance numbers were published, which arrived at GBP-14.064 billion in July versus GBP-16.000 billion expectations and GBP-15.455 billion last. The total trade balance (non-EU) came in at GBP-2.361 billion in July versus GBP-2.772 billion reported in June.
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Source: https://www.fxstreet.com/news/uk-manufacturing-production-declines-08-mom-in-july-vs-10-expected-202309130603