12 Jan 2016
UK: Manufacturing and industrial production dips - TDS
FXStreet (Delhi) – Research Team at TDS, notes that the UK manufacturing production posted a 0.4% m/m decline against consensus and our expectation of a 0.1% m/m increase, matching its decline in October.
Key Quotes
“The broader IP measure fell 0.7% (consensus: 0.0%). Today’s print points to flat manufacturing growth in 15Q4, following three consecutive quarters of decline from 15Q1-15Q3. As GBP comes off its recent highs, however (in part related to delayed expectation of a hike in Bank Rate), this should help support manufacturing activity to a certain extent, and we hope to see positive gains eke out in early 2016.”
Key Quotes
“The broader IP measure fell 0.7% (consensus: 0.0%). Today’s print points to flat manufacturing growth in 15Q4, following three consecutive quarters of decline from 15Q1-15Q3. As GBP comes off its recent highs, however (in part related to delayed expectation of a hike in Bank Rate), this should help support manufacturing activity to a certain extent, and we hope to see positive gains eke out in early 2016.”