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The UK manufacturing output fell in July for 0. 9%

by:Deyuan      2020-12-23
On Wednesday, On September 7) Britain, according to the bureau of statistics data released by the UK manufacturing output fell in July for 0. 9%, a 0 drop is higher than in June. 0 2% and Reuters survey had expected. The biggest drop this year at 4%, at the same time, also set a. The pharmaceutical industry production to reduce the most, other industry production are reduced.

as a refund after the referendum's first official production data, the basic evidence after the release of the PMI, along with survey results from the CBI. And in the political and financial market in July by the violent vibration & other; Gone with & throughout; The data is not unexpected.

the office for national statistics said at the same time, there is no sign that the British manufacturing rapidly-changing by pound boost after the referendum, back by trading contracts are signed in advance, currency exchange rate fluctuations take longer to produce.

in addition, the office for national statistics data also showed that Britain's industrial production rose over the same period increased by 0. 0 1%, broke through the fall. The forecast of 2%. This is mainly thanks to strong oil and natural gas production.

but it is always good data for the pound is of no use, manufacturing data obviously bad impact is bigger. As the news reported, the pound against the dollar fell after gained 6 to 1. 34 a 7 week high of the following, which now 0. 25%, stood at 1. $3389 per pound.

after retail sales data as well as the August PMI values of beautiful performance and exciting market again for Britain's economy may be in the concerns of the contracted in the third quarter.

PantheonMacroeconomics SamuelTombs analysis way: & other; Industrial production growth has benefited from mining and quarrying from 4. Jumped 7%, while the industry has always been very volatile. Although the energy and water yield were increased by 0. 4% and 0. 7%, but still manufacturing output fell by 0. 9%, this has been the industry output for a third straight month of decline. ”

” The output of July is lower than the second quarter average 0. 1%, which makes Britain's GDP in the third quarter is likely to be a drag on. In August, mining and quarrying industry production possible by peaks, resulting in manufacturing by PMI values indicated by last week's rally was erased. After investigation shows that the construction and service of production also fell sharply in July, so we can't rule out the possibility of British decline in GDP in the third quarter. ”

however, previously published data shows the UK business and consumer confidence rebounded sharply to the possibility of the bank of England cut interest rates again still lower. LondonCapitalGroup IpekOzkardeskaya said to cut rates again & other; Not don't need, but is unlikely to happen in the present. ”
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