UK Factories Boosted By Weaker GBP

March 10, 2017 Share Print 0

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

Senior Market Analyst, UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.