U.K. Manufacturing Production Falls By 1.1%

U.K.

U.K manufacturing output declined again in February, indicating struggling sector amid poor exports even when the pound is currently trading at 1.4103 against the dollar and at 20 months low against the euro.

Manufacturing production fell by 1.1 percent in February and 1.8 percent from a year earlier.

Weak economic numbers in recent years have raised concerns about the state of U.K ’s manufacturing and the future of British industry considering Tata Steel declaration of possible exit after years of unprofitable business in the U.K , a move that will jeopardize about 40,000 jobs.

While the economy has shown steady growth recently, uncertainty surrounding the June referendum on EU membership is undermining sentiment among investors.

In a separate release, the Office for National Statistics said that the goods-trade gap in February was 12 billion pounds, while the total trade deficit, including services, was 4.8 billion pounds.

 

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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