The United Kingdom’s (UK) industrial sector activity showed a further deterioration in August, according to the latest data published by the Office for National Statistics (ONS) on Thursday.
Manufacturing output dropped 0.8% MoM in August versus -0.4% expected and -1.2% seen in July while total industrial output stood at -0.7% MoM vs. -0.2% expected and -1.1% previous.
The annual UK Manufacturing Production data rose 2.8% in August, missing expectations of 3.4%. Total Industrial Output increased 1.3% in the eighth month of the year, below the 1.7% expected growth but improving slightly from the previous reading of 1.0%.
Separately, the UK goods trade balance numbers were published, which arrived at GBP-15.95 billion in August versus GBP-14.70 billion expectations and GBP-13.905 billion last. The total trade balance (non-EU) came in at GBP-4.902 billion in August versus GBP-2.653 billion reported in July.
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Source: https://www.fxstreet.com/news/uk-manufacturing-production-drops-08-mom-in-august-vs-04-expected-202310120603