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UK Manufacturing Growth Surges to 1-1/2-Year High, Trade Deficit Narrows

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British manufacturing output rose in September at the fastest monthly pace since April 2014 and the country’s goods trade deficit narrowed more than expected, official data showed on Friday.

The Office for National Statistics said manufacturing output surged 0.8 percent in September, compared with a 0.4 percent increase in August. Economists polled by Reuters had expected only a 0.4 percent increase.

Manufacturing and trade have mostly dragged on Britain’s strong economic recovery over the past couple of years.

Manufacturers have struggled this year due to weak demand from crisis-stricken Europe and a sharp strengthening of the pound, although one survey this week suggested their fortunes improved in October.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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