Details of the May 2016 UK industrial production and manufacturing output data report 7 July 2016
– 1.4% vs 0.5% exp y/y. Prior 1.6%. Revised to 2.2%
– Manufacturing output -0.5% vs -1.0% exp m/m. Prior 2.3%. Revised to 2.4%
Better than expected on all fronts. Decent revisions too. 3m/3m industrial output was the highest since May 201 at 1.9%. 3m/3m manufacturing was at the highest since Apr 2014 at 1.3%. The ONS say that IP would have to drop by over 6% to flatten Q2. Kiss of death or what!