Blog


UK Industrial & Manufacturing figures lower than expectations

British manufacturing slipped unexpectedly in May, dragged down by a fall in car production that will add to questions about the economic outlook going into the second half of 2017, official data showed on Friday.

Manufacturing output edged down by a monthly 0.2 percent, cancelling out its rise in April and disappointing against forecasts for a 0.5 percent rise in a poll of economists, the Office for National Statistics (ONS) said.

Broader industrial output data also disappointed, falling 0.1 percent in May after a 0.2 percent rise in April, and against expectations in the poll for a 0.4 percent increase.

The manufacturing figures were hit by a 4.4 percent drop on the month in motor vehicle production, the biggest fall since February last year and tallying with industry figures showing a fall in new car registrations.

Britain’s economy slowed in early 2017 after it initially withstood the shock of the decision by voters to leave the European Union in a referendum in June 2016.

In annual terms, industrial production was 0.2 percent lower in May, again disappointing against forecasts for an increase of 0.2 percent. Manufacturing output was 0.4 percent higher than in May 2016.

Leave a Reply

Your email address will not be published. Required fields are marked *

15 − fourteen =

What's Going On?

Currencies 4 You Ltd is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House Victory Way Admirals Park, Crossway, Dartford, Kent, DA2 6QD. Currencies 4 You Ltd’s Payment and Foreign Currency Exchange Services are provided by Ebury Partners UK Limited. Currencies 4 You Ltd is partnered with Ebury Partners UK Limited as its Programme Manager. Ebury Partners UK Limited are authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution. (Reference Number 900797). | Terms and Conditions | Privacy Statement | Careers