Britain's manufacturers are getting slammed - and the Brexit effect still hasn't hit
AP Photo/Ed Betz
According to the latest figures from the Office of National Statistics, released today, industrial production grew by 0.1% in June - the most recent data period. That's well above the 0.6% fall that Britain saw in May, and was in line with the forecasts of economists.
Manufacturing production was worse than expected, falling 0.3%, against the 0.2% fall forecast. That was slightly better than the 0.6% fall seen in May.
On a year-on-year basis, manufacturing production grew 0.9% against a forecast of 1.3%, while industrial production grew 1.6%, as forecast.
Here's the ONS' chart showing May's slip as part of the longer term trend.
ONS
It should be noted that this mixed bag of numbers was largely compiled before the UK's vote to leave the European Union, so caution should be urged in reading too much into the data.
Alongside the production numbers, the ONS also released its latest figures on the state of trade. The figures were broadly worse than expected with the UK's trade in goods and services deficit widening by £900 million to £5.1 billion in June. The deficit on trade in goods was £12.4 billion in June, also widening by £0.9 billion from May.
- Tesla tells some laid-off employees their separation agreements are canceled and new ones are on the way
- Taylor Swift's 'The Tortured Poets Department' is the messiest, horniest, and funniest album she's ever made
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- The Future of Gaming Technology
- Stock markets stage strong rebound after 4 days of slump; Sensex rallies 599 pts
- Sustainable Transportation Alternatives
- 10 Foods you should avoid eating when in stress
- 8 Lesser-known places to visit near Nainital