UK Industrial Output Beats Expectations in September

British industrial output grew more strongly than expected in September as it bounced back from a fall the previous month, providing some reassurance that the country’s economic recovery is not being driven only by consumption.

Output in the industrial sector – which makes up about a sixth of Britain’s economy – climbed 0.9 percent during the month and was pushed up most strongly by manufacturing, the Office for National Statistics said.

Economists had expected a rise of 0.5 percent, according to a Reuters poll of economists.

Sterling jumped to a one-week high against the dollar and British government bond prices fell as investors took the data as another sign that the Bank of England might bring forward its timeframe for raising interest rates.

But economists cautioned against reading too much into Wednesday’s figures and Britain’s economy was still being driven by consumption and the services sector.

via UK industrial output rebounds in September | Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza