UK: Manufacturing Succumbs?

Posted August 7, 2012 by Editor

Surprising to the upside, June manufacturing output still slumped 2.9% M/M, more than unwinding the little-revised bounce of 1.2% seen in the previous month, the latter being only the second rise so far this year. Y/Y growth was much more negative at -4.3%. The June slump was largely broad-based however.  Indeed, despite cool and wet weather during the month, energy/utility production was clearly down afresh. As a result, overall industrial production dropped 2.5%% in M/M terms.