UK Manufacturing Production rebounds 11% MoM in June vs. +10% expected

The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Wednesday, as the overall industrial sector returned to expansion in June.

Manufacturing output arrived at 11.0% MoM in June versus 10.0% expectations and 8.4% booked in June, while total industrial output came in at 9.3% vs. 9.2% expected and 6.0% last.

On an annualized basis, the UK manufacturing production figures came in at -14.6% in June, beating expectations of -15.0%. Total industrial output plunged 12.5% in June, against a -12.8% reading expected and the previous -20.0% print. 

Separately, the UK goods trade balance numbers were published, which arrived at GBP -5.12 billion in June, versus GBP -4.75 billion expectations and GBP -2.805 billion last. Total trade balance (non-EU) came in at GBP 0.30 billion in June versus GBP 2.16 billion previous.

FX implications

The GBP/USD pair challenges fresh session highs on the upbeat UK growth and industrial numbers, looking to extend the bounce from multi-day lows of 1.3017.

• Breaking: UK GDP shrinks 20.4% QoQ in Q2 vs. -20.5% expected, GBP/USD unmoved