Tuesday, August 07, 2012
Industrial production marginally less gloomy than feared
Posted by David Smith at 09:45 AM
Category: Thoughts and responses

The industrial production figures look awful, with a drop of 4.3% on a year earlier in both industrial production and manufacturing and falls of 2.5% and 2.9% respectively on the month. The extra June bank holidays were, however, a big factor and the 0.9% quarterly drop in both measures was less than the 1.3% the Office for National Statistics had feared, implying a 0.1 point upward revision in Q2 gross domestic product. More here.