Details from the February 2016 UK industrial and manufacturing production data report 8 April 2016
- Prior 0.3%
- -0.5% vs 0.0% exp y/y. Prior 0.2%
- Manufacturing production -1.1% vs -0.2% exp m/m. Prior 0.7%
- -1.8% vs -0.7% exp y/y. Prior -0.1%
That's let some of the air out of the pound's tyres as we completely unwind last months gains and more.
GBPUSD down to 1.4095 quickly but has bounced to 1.4113.
Bad numbers even with decent gains in mining and extraction.
UK IP & MP details
The largest falls for over 2 years are being put down to big firms holding back on investment spending ahead of the referendum, and China growth worries. The 3m/3m numbers above make the report even worse as that smoothes the month to month volatility. That's at the lowest for 3 years in IP.
This part of the economy isn't going to be pulling up any trees for Q1 GDP and the currency can't take the blame this time.
UK IP & MP y/y
