Latest data released by ONS - 11 June 2018
- Prior -0.1%
- Manufacturing production +1.4% vs +3.1% y/y expected
- Prior +2.9%
- Industrial production -0.8% vs +0.1% m/m expected
- Prior +0.1%
- Industrial production +1.8% vs +2.7% y/y expected
- Prior +2.9%
- Construction output +0.5% vs +2.0% m/m expected
- Prior -2.3%
- Construction output -3.3% vs -1.8% y/y expected
- Prior 4.9%
Weaker numbers across the board for the UK. Sterling falls on the release. GBP/USD now down to the 1.3400 handle. The monthly figures for manufacturing and industrial production are abysmal, while the yearly estimates for all three sectors are quite a miss and that is dragging down the pound.
The fall in construction output is the weakest since August 2012 and the manufacturing production when measured on a 3m/3m basis shows the first fall since May 2017.