Sign into FXTrade

Don't have an account? Register now

UK Industrial Output Slides in August

The fall in Industrial output was the result of factory shutdowns and oil and gas plants annual maintenance. It is still unclear how sound the recovery of the British economy is at this point and could force the Bank of England to maintain its rates at current levels (0.5%)

Manufacturing output fell by 1.9 per cent in August, according to the Office for National Statistics. Most economists had expected a rise of up to 0.3 per cent.

The falls came after a 0.5 per cent rise from June to July.

Overall production output, which includes energy production, fared even worse, falling 2.5 per cent in the month to its lowest level since 1987.

The biggest fall, of 7.3 per cent, came from the oil and gas extraction industries, the largest monthly fall in this sector for a year, as refineries were shut for planned maintenance, ONS said.

Recent Articles

Posted by Scott Boyd at 9:07 am EDT, 03/18/2010
Posted by Scott Boyd at 8:59 am EDT, 03/18/2010
Posted by Scott Boyd at 8:51 am EDT, 03/18/2010

Forex Insights »

Posted under USD, EUR, GBP, CHF, JPY, AUD, CAD at 8:40 am EDT, 03/18/2010
Posted under USD, EUR, GBP, CHF, JPY, AUD, CAD at 8:31 am EDT, 03/18/2010
Leave a Comment

Latest Articles

Posted by Scott Boyd at 9:07 am EDT, 03/18/2010
Posted by Scott Boyd at 8:59 am EDT, 03/18/2010
Posted by Scott Boyd at 8:51 am EDT, 03/18/2010
Forex Rates
Interest Rates

Some of OANDA's currency tools require Adobe's Flash Player.

March
18
Today’s Global
Market Events
7:30 am

USD
FOMC Member Duke Speaks
8:30 am

CAD
Foreign Securities Purchases
7.75b vs. 11.23b
USD
Core CPI m/m
0.1% vs. -0.1%
USD
Unemployment Claims
456k vs. 462k
USD
CPI m/m
0.1% vs. 0.2%
USD
Current Account
-120b vs. -108b
USD
FOMC Member Hoenig Speaks
10:00 am

USD
Philly Fed Manufacturing Index
17.6 vs. 17.6
USD
CB Leading Index m/m
0.1% vs. 0.3%
10:30 am

USD
Natural Gas Storage
-37b vs. -111b
12:45 pm

GBP
MPC Member Sentance Speaks
1:00 pm

CHF
Gov Board Member Danthine Speaks
5:45 pm

NZD
Visitor Arrivals m/m
-2.4%
10:00 pm

NZD
Credit Card Spending y/y
2.6%