UK DATA: Nov manufacturing output +0.6% m/m; +5.6% y/y; median +0.5;+5.4
–Nov industrial production +0.4% m/m; +3.3% y/y; median +0.7; +3.4
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Manufacturing output rose a healthy 0.6% m/m in Nov following the
same increase in Oct, pushing output 5.6% above levels a year earlier.
This was a little above the median forecast for a rise of 0.5% m/m and
5.4% y/y. The wider measure of production rose 0.4% m/m, a little below
the median for a 0.7% rise m/m as oil and gas production fell again
against expectations for an increase. Manufacturing was boosted by rise
in transport, machinery equipment and food, drink and tobacco. On a
trend basis manufacturing growth was up 1.2% 3m/3m the highest since
June 10 while industrial production was up 0.8%. Overall these data
continue to show strength in the manufacturing sector, something the
survey data suggests will continue for the foreseeable future.