UK March manufacturing and industrial production data 11 May 2016

  • --0.9% prev revised up from -1.1%
  • yy -1.9% vs -1.9% exp vs -1.6% prev revised up from -1.8%
  • Industrial production mm +0.3% vs +0.5 % exp vs -0.2% prev revised up from -0.3%
  • yy -0.2% vs -0.4% exp vs +0.1% prev revised up from -0.5%

Softer headline data as expected but better revisions. ONS say the data does not point to any revisions of Q1 GDP data.

  • Total production output is estimated to have decreased by 0.4% between Quarter 4 (Oct to Dec) 2015 and Quarter 1 (Jan to Mar) 2016. The largest contribution to the quarterly decrease came from mining & quarrying, which fell by 2.3%.
  • Manufacturing, the largest component of production, is estimated to have decreased by 0.4% between Quarter 4 (Oct to Dec) 2015 and Quarter 1 (Jan to Mar) 2016. The largest contribution to the decrease came from the manufacture of coke & refined petroleum products, which decreased by 12.1%.
  • Total production output is estimated to have decreased by 0.2% in March 2016 compared with March 2015. There were decreases in 2 of its 4 main sectors, with the largest contribution coming from manufacturing, which decreased by 1.9%.

Full ONS report here.

GBPUSD a little lower at 1.4412 with next support/demand seen into 1.4400

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