UK Manufacturing Growth Surges to 1-1/2-Year High, Trade Deficit Narrows

British manufacturing output rose in September at the fastest monthly pace since April 2014 and the country’s goods trade deficit narrowed more than expected, official data showed on Friday.

The Office for National Statistics said manufacturing output surged 0.8 percent in September, compared with a 0.4 percent increase in August. Economists polled by Reuters had expected only a 0.4 percent increase.

Manufacturing and trade have mostly dragged on Britain’s strong economic recovery over the past couple of years.

Manufacturers have struggled this year due to weak demand from crisis-stricken Europe and a sharp strengthening of the pound, although one survey this week suggested their fortunes improved in October.


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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.