The recovery of the British industrial sector gained strength in Mayaccording to the latest UK manufacturing and industrial production data released by the Office for National Statistics (ONS) on Wednesday.
Manufacturing output was 1.4%m/m in May vs. 0.1% expected and -0.6% registered in April, while total industrial production was 0.9%, vs. 0% expected and -0.1% before.
In annual terms, UK manufacturing output stood at 2.3% in May, beating expectations of 0.3%. Total industrial production increased by 1.4% in the fifth month of the year, against -0.5% expected and 1.6% previously.
Separately, UK Goods Trade Balance figures were released, coming in at £21.445m in May, against £20.401m forecast and £21.552m previously. The total trade balance (non-community) stood at 10,367 million pounds in May, compared to 11,408 million previously.
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
