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UK industrial output falls unexpectedly in August

by ChemOrbis Editorial Team -
  • 07/10/2016 (16:46)
According to data from the Office for National Statistics (ONS), UK industrial output decreased 0.4% in August from a 0.1% increase in July due partly to a fall in oil and gas production. ONS revealed that industrial output remained below economists’ forecasts calling for a 0.1% gain.

The data shows that exports increased only £100 million versus expectations of a £4 billion increase and despite hopes that a weaker pound against the US dollar would boost exports.

However, manufacturing output increased 0.2% in August on the month, but this followed a steep 0.9% drop in July.

"Manufacturing output was up slightly in August with more cars built, with limited evidence suggesting the lower pound boosted exports," ONS statistician Kate Davies said.
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