UK DATA: Aug manufacturing output +0.3% m/m; +6% y/y; median +0.2;+5.8
–Aug industrial production +0.3% m/m; +4.2% y/y; median +0.3; +4.2
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Manufacturing output rose 0.3% m/m in August and was up 6% y/y, a
little higher than the median forecast for a rise of 0.2% m/m and 5.8%
y/y. There was also a small upward revision to July to 0.3% m/m from
0.2% m/m. The wider measure of industrial production was up 0.3% m/m and
4.2% y/y, bang in line with the median. Within manufacturing there were
rises in 9 out of the 13 sub-sectors with the largest gains seen in
food, drink and tobacco, transport equipment and other manufacturing.
There were falls in paper, print and publishing and textiles.
Manufacturing y/y growth is the highest since Dec 94 showing a strong
bounceback from the credit crunch downturn. Recent survey data suggests
activity will soften ahead, although so far the official data continue
to show steady growth.