UK DATA: Jun manufacturing output -0.4% m/m; +2.1% y/y
–Jun industrial production unch. m/m; -0.3% y/y
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Industrial production was flat on the month in June and down
sharply over Q2 as whole, although the data will have only limited
impact on GDP growth over the quarter, figures released by National
Statistics revealed Tuesday. Industrial production was unchanged on the
month in June to stand 0.3% below levels a year earlier. Economists has
expected to see a rise of 0.4% on the month and increase of 0.2% on the
year. Manufacturing output fell 0.4% on the month and was up 2.1% on the
year. Output was down in 8 of the main manufacturing sub-sectors and up
in 5. The latest fall in manufacturing followed a 1.8% rise in May, but
the outturn will be seen by markets as disappointing with analysts
expecting to see a rise of 0.2% on the month and 2.9% on the year.