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Tuesday, Jul 9
The U.K. economy may not be out of the woods just yet as output figures come in below forecasts....
The U.K. economy may not be out of the woods just yet as output figures come in below forecasts. Industrial production was flat on month in May vs -0.1% previous and consensus of +0.2%; on year, output -2.3% vs -1.4% and -1.5%. Manufacturing production -0.8% on month vs -0.2% and +0.3%; on year, output -2.9% vs -0.9% and -1.6% (PR). The total trade deficit widens to £2.435B in May from £2.073B in April, and the goods trade deficit edges up to £8.491B from £8.43B (PR). The pound (FXB) takes a dive vs the dollar and is -0.4%, although the FTSE is relatively unaffected and is +1%.