Pound Falling on Manufacturing Misery
Unexpected fall in manufacturing scares the money markets…
The UK’s economic data is up and down enough to tire the most committed bride on her wedding night. After a strong December, January’s data was disappointing – output fell by 0.4% compared with December according to the Office for National Statistics (ONS). Analysts had expected a rise of 0.2%.
Bloomberg: Factory output dropped 0.9 percent from December, the Office for National Statistics said today in London. Economists predicted a 0.2 percent increase, according to the median of 26 forecasts in a Bloomberg News survey. The pound fell as much as 0.4 percent after the report and traded at $1.4909 as of 10:26 a.m. in London.
Blame it on the weather.
Various pundits have speculated that the UK’s coldest winter for decades is to blame. Fingers crossed for a mild spring then…









