UK June industrial production expands 0.1% m/m vs. -0.1% expected

The Office for National Statistics (ONS) published the industrial and manufacturing production data on Tuesday, showing that the manufacturing sector activity slowed the pace of deceleration in June, sending the overall industrial output back into the positive territory in the reported month.

Manufacturing output dropped 0.3% m/m in June versus a revised 0.6% fall seen in May, while total industrial output rose 0.1% m/m, after booking a revised -0.6% in May. Markets had predicted a negative reading of -0.2% and -0.1% respectively.

On annualized basis, UK manufacturing production was up 0.9%, compared with expectations of +1.3%. Total industrial output rose 1.6% from a year earlier, matching estimates and against the previous +1.4% print.