UK manufacturing output for April came in at a much weaker than expected negative 1.5%, month-over-month. That’s the fastest rate of decline in two years, according to iMarketNews.
Output was still up 1.3% year-over-year.
What’s to blame for this slowdown? Beyond the impact of the Japanese earthquake, the extra holiday weekend in April for the royal wedding seems to have contributed to the slowdown.
But that doesn’t explain the revised number for Q1 industrial production, which is now estimated to have fallen 0.1% quarter-over-quarter.
The pound sold off sharply ahead of this number, but is now making some gains.
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