This is the first quarterly estimate for Index of Production (IoP) covering data post-EU referendum. Quarterly estimate for production output decreased by 0.5% in Quarter 3 (July to Sept) 2016. The largest downward pressure came from manufacturing, which fell by 0.9%, partially offset by a rise in mining and quarrying of 4.3%.
Quarterly IoP in Gross Domestic Product preliminary estimate for Quarter 3 (July to Sept) was revised from a fall of 0.4% to a fall of 0.5%, no impact on GDP to 1 decimal place.
The monthly picture shows a decrease of 0.4% compared with August 2016. Mining and quarrying was the main sector to show a fall of 3.8%, partially offset by an increase in manufacturing of 0.6%. Users should note that we always warn against overly interpreting 1 month’s figures.
The month-on-month a year ago picture shows an increase of 0.3% in September 2016 with upward increases from 3 of the 4 main sectors. The largest contribution came from water and waste management, 5.4%.
The post UK manufacuring production up above expectations. The pound stable so far as we expect the US elections appeared first on forex-analytics.press.