Industrial production in the UK in August rose more than forecasts

The growth of British industrial production slowed for a second straight month in August, according to data from the office for national statistics on Tuesday.

Industrial production in August rose 0.2 percent from the previous month, lower than the growth in July by 0.3 percent. It was the fifth consecutive monthly increase.

The expansion largely was driven by manufacturing output which grew by 0.4 percent. Meanwhile, mining and quarrying declined by 2.0 percent.

In annual terms, growth in industrial production in August rose to 1.6 percent from 1.1 percent in July. The expected growth rate was 0.9 percent.

The manufacturing production in August increased by 2.8 percent per annum, exceeding the forecast of economists, the growth of 1.9 percent.

Another report from ONS showed that construction output in August rose 0.6 percent from July, mainly due to growth of 1.7 per cent of total new orders. He was expected to remain unchanged during the month.

After the data, the pound extended gains against the U.S. dollar and updated intraday high. At the moment GBP/USD is traded at $1.3188. The immediate resistance – $1.3249 (maximum of 5 November). Strong support at $1.3026 (low Oct 6).

Information-analytical Department Forex club

Industrial production in the UK in August rose more than forecasts 10.10.2017

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