U.K. Manufacturing Output Unexpectedly Grows In June

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Wednesday, the Office for National Statistical Office said manufacturing output grew 0.4% in June from May, while economists were expecting a 0.1% monthly fall. Output increased in nine of the 13 sub-sectors and decreased in three sub-sectors with one sub-sector remaining flat during June.

At the same time, industrial production grew at the fastest pace since October 2007. Total production grew 0.5% between May and June, following a 0.7% fall in May. Economists were looking for a zero percent growth in June. Mining and quarrying output was up 1.1% and energy supply output remained flat.

On a yearly basis, industrial production recorded a decrease of 11.1% and manufacturing output slipped 11.7% in June. Economists were looking for an annual 11.4% drop in industrial production and 12.1% decline in manufacturing.

Wednesday, the Office for National Statistical Office said manufacturing output grew 0.4% in June from May, while economists were expecting a 0.1% monthly fall. (Market News Provided by RTTNews)