UK Manufacturing Production plummets 24.3% MoM in April vs. -15.8% expected
|The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Friday, as the overall industrial sector contraction deteriorated sharply in April.
Manufacturing output arrived at -24.3% MoM in April versus -15.8% expectations and -4.6% booked in March, while total industrial output came in at -20.3% vs. -15.0% expected and -4.2% last.
On an annualized basis, the UK manufacturing production figures came in at -28.5% in April, missing expectations of -19.9%. Total industrial output plunged 24.4% in April, against a -19.3% reading expected and the previous -8.2% print.
FX implications
The GBP/USD pair challenges daily highs despite the terrible UK growth and industrial numbers, flirting with 1.2600.
Breaking: UK GDP shrinks -20.4% MoM in April vs. -18.4% expected, GBP/USD unfazed
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