UK Factories Boosted By Weaker GBP

British factory output had its strongest growth in nearly seven years in late 2016 and early 2017 and exports also grew quickly, data showed on Friday, suggesting a Brexit boost for the sector from sterling’s fall.

Manufacturing output fell by 0.9 percent in January, a bigger decline than the 0.6 percent fall forecast in a Reuters poll of economists.

But over the November-January period, factory output was up 2.1 percent, its strongest showing since the three months to May 2010, the Office for National Statistics said.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.