UK DATA: Sep manufacturing output +0.1% m/m; +4.8% y/y; median +0.2;+4.9
–Sep industrial production +0.4% m/m; +3.8% y/y; median +0.4; +3.6
————————————————————————
Manufacturing output rose 0.1% m/m in Sep, a little below the
median forecast of +0.2%, and the weakest since April. The wider measure
of industrial production was up 0.4% m/m in line with the median and a
little stronger than expected on the year at 3.8%. Both manufacturing
and production were revised up 0.1pp to show rises of 0.4% m/m in
August. Within manufacturing there were increases in 7 out of the 13
sub-sectors and falls in 6. While manufacturing is weaker this month,
the trend 3m/3m growth is still +1%. Meanwhile the manufacturing PMI for
Oct picked back up again which points to continued growth in the future.