Britain’s manufacturing decline by 0.3%

Tuesday, 11 October 2011 12:49

The Office of National Statistics in the United Kingdom release its bulletin report on the Manufacturing Production for the month of August;  figures were reported worse than economists' expectations.  Compared to July 2011, manufacturing production fell by 0.3% from -0.2% while forecast drew near a correction of -0.1%.

Nevertheless, Industrial Production rose by 0.2%, a lot higher than the expected -0.2%.

The British Pound fell by around 25 pips from the time of the news release.  Sterling versus the Euro started falling 10 minutes before the release, from 0.8722.  At the time of the news the pair continued its downtrend until 0.8694.