UK Manufacturing Drops 1.7% Annually & Industrial Production Declines 1.6% - 10.7.2012

The UK Manufacturing Production fell by 1.7 per cent in May 12 compared with May 11, it fell more than a revised April annual decline of 1.5 per cent according to the Office of National Statistics, however it fell less than anticipated. On Monthly basis the Manufacturing Production rose by 1.2 per cent in May, up from a revised 0.8 per cent drop in April, as well as better than expected decline of 0.1 per cent. Furthermore, the Industrial Production in UK declined by 1.6 per cent in May on annual basis which is a lower decline than the revised 2.0 per cent drop in April. On Monthly basis the Industrial Production increased unexpectedly by 1.0 per cent in May while in April reduced by 0.4 per cent. Lastly, according to the Office of National Statistics the deficit on Trade Balance for goods reduced to 8.4 billion pounds in May from 9.7 billion pounds deficit in April.