UK Manufacturing Production Rises

U.K. manufacturing increased for a second month in June in the best calendar quarter for factory production in more than a decade as the economic recovery strengthened.

Output climbed 0.3 percent from the previous month, when it rose by the same amount, the Office for National Statistics said today in London. The median forecast of 24 economists in a Bloomberg News survey was for an increase of 0.4 percent. Overall industrial production unexpectedly fell due to earlier- than-usual maintenance of oil and gas fields.

Bank of England policy makers yesterday kept their 200 billion-pound ($318 billion) bond stimulus in place and held the benchmark interest rate at a record low. While economic growth accelerated to the fastest in four years in the second quarter, Governor Mervyn King has downplayed the data and said last week that officials must “keep our foot firmly on the accelerator.”


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell