UK Manufacturing Production rebounds 8.4% MoM in May vs. -20.9% expected

The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Tuesday, as the overall industrial sector condition improved in May.

Manufacturing output arrived at +8.4% MoM in May versus -20.9% expectations and -24.4% booked in April, while total industrial output came in at +6.0% vs. +6.0% expected and -20.2% last.      

On an annualized basis, the UK manufacturing production figures came in at -22.8% in May, beating expectations of -23.9%. Total industrial output plunged 20.0% in May, against a -20.0% reading expected and the previous -23.8% print.

FX implications

The GBP/USD pair whipsaws but remains below 1.2550 on the mixed UK economic releases.

• UK GDP expands 1.8% MoM in May vs. +5.0% expected, GBP/USD unfazed