U.K. industrial production growth likely remained flat sequentially in June

Recently, the U.K. economy has softened slightly even if any downturns is unlikely anytime soon, noted Wells Fargo in a research report. The industrial production report is set to be released next Thursday that will show that the growth was flat in June. According to consensus expectations, the industrial production growth is expected to have remained flat in June after declining 0.1 percent in May.

On a year-on-year basis, the industrial production is expected to have continued to drop in the month by 0.1 percent, after dropping 0.2 percent in May. In the meantime, consensus expects manufacturing production to grow 0.1 percent in June, as compared with a fall of 0.1 percent seen in May. However, on a year-on-year basis, consensus expectations are for the manufacturing industry to have slightly improved to 0.6 percent in June from a growth rate of 0.4 percent in May. The NIESR monthly GDP proxy is also set to be released for the month of July next week. In June, the index had risen 0.3 percent after rising 0.2 percent in May.

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