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UK manufacturing output drops 0.4% in May

July 10, 2018 9:21 AM
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UK manufacturing output drops 0.4% in May

Mubasher: The UK’s production index fell by 0.6% in the three months ended May 2018 compared with the previous three-month period, data released on Tuesday showed.

The index’s loss is mainly ascribed to a 1.2% drop in the manufacturing output, but was offset by a 4.6% gain in mining and quarrying activity, according to the Office for National Statistics (ONS).

The UK total production also declined by 0.4% in May compared with the previous month, driven by falls of 3.2% and 4.6% in energy supply and mining and quarrying respectively.

However, production grew 1.8% in the three months ended May year-on-year.

By 9:11 am GMT, the GBP/USD pair shed 0.08% to $1.3250, while EUR/GBP pair fell 0.20% to GBP 0.8845.

Source: english.mubasher.info

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