Manufacturing Production (UK)
A Steep Decline in Manufacturing Production in October
Starts Saturday, January 19, 2019 at 16:55
Updated Friday, January 11, 2019
Manufacturing production was growing steady in May and June by 0.4% on a monthly basis. But, in July and August it declined by 0.2% in each month. It returned to the positive trend in September, growing by 0.2% that month as the report from November showed. Although, in November it turned negative again and big decline of 0.9% in a string of negative data from the UK last month, showing figures for October. Let's see if that was just a one-off month. Follow us for live coverage of this event and the impact it might have on the currency by experienced market analysts.
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About Manufacturing Production (UK)
Released by the National Statistics Bureau, Manufacturing Production is an aggregate measure of the U.K.’s industrial output. It is developed for month-over-month and year-over-year comparison, specifically addressing the relative strength of U.K manufacturing.The manufacturing sector represents 12-15% of the total GDP in the U.K. Being a top 10 global exporter, items such as pharmaceuticals, cars, beverages, and appliances are primary vehicles of foreign trade.Manufacturing Production is viewed by traders and investors to be a leading indicator of the U.K.’s short-term economic prowess. A high reading is perceived to be bullish toward the GBP, while a low reading is typically viewed as bearish. Volatility levels for the GBP may increase upon its public release, but Manufacturing Production is not a primary economic indicator for the U.K.