Tuesday, July 09, 2013
A dampener from the ONS
Posted by David Smith at 09:45 AM
Category: Thoughts and responses

After strong survey data from the purchasing managers and the British Chambers of Commerce, official figures from the Office for National Statistics provided a dampener, not for the first time. Overall industrial production was flat between April and May, while manufacturing output recorded a surprise fall of 0.8%.

The figures remain consistent with modest rises in output in both overall industrial production and manufacturing output in the second quarter, of 0.3% and 0.1% respectively, but have taken the edge off prospects for a big second quarter gross domestic product increase. More on the figures here.

Alongside the industrial production figures, Britain's trade deficit widened to 2.4 billion in May, from 2.1 billion in April. While both exports and imports have picked up since early 2013, the deficit looks becalmed. More here.