Oil and Gas Industry Sparks Increase in Industrial Output

British industrial output rebounded in November, helped by a recovery in oil and gas and adding to signs that the economy kept its momentum in late 2016 despite June’s shock Brexit vote.

But Britain’s trade performance deteriorated, the data also showed. A record increase in imports completely outweighed exports which also hit an all-time high, showing the pound’s drop since the referendum has yet to improve Britain’s balance of trade.

The Office for National Statistics said industrial output rose 2.1 percent in November alone, recovering from a 1.1 percent drop in October and beating expectations for a 0.8 percent jump in a Reuters poll of economists.

Reuters

XAU/USD – JOLTS Job Openings Dips but Gold Unchanged

Does Russia Have Damaging Information on Trump?

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.