U.K. industrial production likely to have remained unchanged in October – Lloyds Bank

The U.K. industrial production recorded a solid performance in the third quarter, recording a growth of 1.1 percent on a sequential basis. The rise was driven mainly by growth in manufacturing output. The manufacturing PMI rose in October as well as in November, implying that the buoyance continued into the fourth quarter of 2017, noted Lloyds Bank in a research report.

But the successive rises in the earlier five months indicate towards the possibility of some reversal in October. Consequently, a decline in manufacturing output of 0.2 percent is expected in October on a sequential basis. But with the output in oil and gas sector likely to have rebounded strongly, the overall industrial production is expected to have remained unchanged over the month, added Lloyds Bank.

At 20:00 GMT the FxWirePro's Hourly Strength Index of British Pound was neutral at -29.0007, while the FxWirePro's Hourly Strength Index of US Dollar was bearish at -89.8062. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest