On Friday, the Office for National Statistics (ONS) released data on UK industrial and manufacturing production, indicating that the country’s industrial recovery appeared to be in a lull.
Manufacturing production fell by 0.1 percent MoM in May, compared to 1.0 percent predicted and 0% booked in April, while overall industrial output increased by 0.8 percent, compared to 1.5 percent projected and -1.0 percent previous month.
On an annualized basis, manufacturing production in the United Kingdom fell short of estimates in May, coming in at 27.7% instead of 29.5 percent. Total industrial output increased by 20.6 percent in the fifth month of the year, compared to a forecast of 21.6 percent and a previous estimate of 27.2 percent.
After the UK GDP fails estimates by 0.8 percent in May, the GBP/USD remains below 1.3800.
GBP/USD: Chances of a dip below 1.3735 have dwindled – UOB
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