UK September industrial production has come in at +1.6% m/m, better than median forecast of +1.2%, and the biggest rise since July 2002. The y/y rate came in at -10.3, as expected.
Manufacturing production +1.7% m/m, -9.3% y/y, better than median forecasts of +1.0%, -9.7% respectively. Month on month rise also biggest since July 2002.
Cable having rallied strongly into the figures has slipped back slightly.
We were around 1.6540/45 just ahead of release, presently at 1.6525. If I didn’t know better I might suspect…….No better not go there.
