UK DATA: Aug manufacturing output -0.3% m/m; +1.5% y/y
–Aug industrial production +0.2% m/m; -1% y/y
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Manufacturing output fell 0.3% on the month and was up 1.5% on the
year. Analysts had expected to see a slightly smaller fall of 0.2% on
the month, although the annual increase was in line with forecasts.
There was, however, a downward revision to the July data which now shows
output fell 0.2% on the month in contrast to the initially estimated
0.1% rise. The wider measure of industrial production was up 0.2% on the
month but down 1% on the year, the largest annual fall since April 2006.
Analysts had expected a slightly smaller decline of 0.1% on the month
and a rise of 1% on the year. The July data was revised down to show a
0.4% monthly fall against the initial estimate of a 0.2% fall.