The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Tuesday, showing that the overall industrial activity disappointed markets in the month of May. Meanwhile, the manufacturing figures also disappointed markets.
Manufacturing output arrived at 0.4% m/m in May versus -1.3% (revised higher from -1.4%) booked in April, while total industrial output declined to -0.4% in the reported month, against a 1.0% contraction seen previously.
On an annualized basis, the UK manufacturing production figures came in at 1.1% in May, missing expectations of 1.9%. Total industrial output also increased by 0.8% in May, below expectations of a 1.9% reading and against the previous 1.6% (revised lower from 1.8%) print.
Separately, the UK goods trade balance numbers were published, which arrived at GBP -12.36 billion in May, versus GBP -12.00 billion expectations and GBP -12.40 billion last. Total trade balance came in at GBP -2.79 billion in May versus GBP -3.087 billion previous.
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