UK manufacturing production arrives at -0.2% m/m in July, a big miss

The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Monday, showing that the overall industrial activity disappointed markets in the month of July.

Manufacturing output arrived at -0.2% m/m in July versus 0.2% expectations and 0.4% booked in July, while total industrial output rose 0.1% in the reported month, against a 0.4% increase seen previously.

On an annualized basis, the UK manufacturing production figures came in at 1.1% in July, missing expectations of 1.5%. Total industrial output also expanded by 0.9% in July, missing expectations of a 1.1% reading and against the previous 1.1% print.

Separately, the UK goods trade balance numbers were published, which arrived at GBP – 9.970 billion in July, versus GBP -11.750 billion expectations and GBP -10.680 billion last. Total trade balance came in at GBP -0.1110 billion in July versus GBP -0.9420 billion previous.