UK industrial production drops unexpectedly in May
|The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Friday, showing that April’s turn around in the overall industrial activity was a dead cat bounce, as the industrial output fell back into contraction in May.
Manufacturing output dropped by 0.2% m/m in May versus a 0.2% rise seen in April, while total industrial output also showed a 0.1% drop in the reported month, against a 0.2% increase seen in April.
On annualized basis, UK manufacturing production figures came in at 0.4% in May, compared with expectations of +0.0%. Total industrial output slowed its pace of contraction by 0.2% from a year earlier, missing expectations of a 0.2% increase and against the previous -0.8% print.
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