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The United Kingdom’s manufacturing output continued to contract in June in run up to the referendum of UK's membership in the EU on June 23.
UK’s manufacturing production fell 0.3 percent in June compared to the month before, weighed by a decline in transport equipment output, data released by the Office for National Statistics showed Tuesday. However, year-on-year, production rose 0.9 percent versus a 1.5 percent rise the previous month. Manufacture of transport equipment witnessed the largest fall
Further, industrial production as a whole rose 0.1 percent in June compared to May, when output fell 0.6 percent. This was in line with forecasts. Compared to June 2015, industrial output rose 1.6 percent. Further, annual output rose 1.4 per cent in May, data showed.
Moreover, industrial production as a whole rose 0.1 percent in June compared to May, when output fell 0.6 percent. This was in line with forecasts. Compared to June 2015, industrial output rose 1.6 percent. Annual output had increased 1.4 percent in May.
Alongside the production numbers, the ONS also released its latest figures on the state of trade. The figures were broadly worse than expected with the UK's trade in goods and services deficit widening by GBP900 million to GBP5.1 billion in June. The deficit on trade in goods was GBP12.4 billion in June, also widening by GBP0.9 billion from May.
Meanwhile, the country’s gross domestic product expanded by 0.6 percent in the second quarter, while the recently released Purchasing Managers’ Index (PMIs) indicate a sharp deterioration in industrial activity across the private sector.
