Investing.com – Manufacturing production in the U.K. fell more-than-expected in August, declining for the third consecutive month, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said that manufacturing production fell by 0.3% in August, worse than expectations for a 0.1% decline.
July’s figure was revised to a 0.2% drop from a previously reported 0.1% increase.
Year-on-year, manufacturing production rose at an annualized rate of 1.5%, below expectations for a 1.6% gain.
The report showed that industrial production rose by 0.2% in August, confounding expectations for a 0.2% drop.
The previous month’s figure was revised down to 0.4% decline from a 0.2% drop.
Industrial production declined at an annualized rate of 1.0% in August, compared with expectations for a 1.1% decline.
Following the release of the data, the pound was down against the U.S. dollar, with GBP/USD shedding 0.2% to trade at 1.5637.
Meanwhile, European stock markets were lower after the open. The FTSE 100 declined 0.65%, the EURO STOXX 50 fell 0.7%, France’s CAC 40 dropped 0.8%, while Germany's DAX slumped 0.6%.
In a report, the U.K. Office for National Statistics said that manufacturing production fell by 0.3% in August, worse than expectations for a 0.1% decline.
July’s figure was revised to a 0.2% drop from a previously reported 0.1% increase.
Year-on-year, manufacturing production rose at an annualized rate of 1.5%, below expectations for a 1.6% gain.
The report showed that industrial production rose by 0.2% in August, confounding expectations for a 0.2% drop.
The previous month’s figure was revised down to 0.4% decline from a 0.2% drop.
Industrial production declined at an annualized rate of 1.0% in August, compared with expectations for a 1.1% decline.
Following the release of the data, the pound was down against the U.S. dollar, with GBP/USD shedding 0.2% to trade at 1.5637.
Meanwhile, European stock markets were lower after the open. The FTSE 100 declined 0.65%, the EURO STOXX 50 fell 0.7%, France’s CAC 40 dropped 0.8%, while Germany's DAX slumped 0.6%.