UK July production data 8 Sept

  • 0.5% prev
  • yy 0.4% as exp vs 0.3% prev
  • mftg prod 0.5% vs 0.3% exp vs 0.0% prev
  • yy 1.9% vs 1.7% exp vs 0.6% prev
  • construction output mm SA -0.9% vs -0.2% exp vs -0.1% prev
  • yy SA -0.4% vs 0.2% exp vs 0.9% prev

Mixed bag of data leaves GBP suitably unfazed.

Says the ONS;

  • the largest contribution to the rise in mining and quarrying in the 3 months to July 2017 came from oil and gas extraction, which rose by 2.6%, due mainly to a lack of maintenance, which has historically taken place in the month of June, although in some previous years this maintenance has occurred later in the summer
  • the monthly increase within transport equipment was due to motor vehicles, trailers and semi-trailers, which rose by 13.7%, the strongest growth since March 2009; evidence suggested that the production of new models contributed to the growth

Full report from ONS here