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U.k. Industrial Output Unexpectedly Falls Most Since 2012

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http://www.bloomberg.com/news/2013-10-09/u-k-industrial-production-unexpectedly-falls-most-since-2012.html

U.K. industrial production unexpectedly fell in August by the most in almost a year, casting doubt on the strength of the third-quarter recovery.

Industrial output dropped 1.1 percent from July, when it gained 0.1 percent, the Office for National Statistics said today in London. The median forecast of 30 economists in a Bloomberg News survey was for an increase of 0.4 percent. Factories cut output by 1.2 percent, with pharmaceuticals contributing most to the decline.

While the International Monetary Fund raised its forecasts for the U.K. by more than any other Group of Seven economy yesterday, today’s figures suggest the industrial sector is lagging behind. Bank of England policy makers will probably maintain policy to cement the recovery when they conclude their two-day meeting today, according to Bloomberg surveys.

“Global economic conditions are still challenging,” Howard Archer, an economist at IHS Global Insight in London, said before the data were released. “The prospects for U.K. manufacturing export orders are being helped by the euro zone finally exiting recession in the second quarter and seemingly achieving further modest growth in the third quarter.”

Those economics experts are worth the money... There blind guess was wrong this month.

So the UK's much promoted manufacturing recovery hits a bit of a problem.

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It sounds as if the PMI index will be on a downleg now.

It apparently peaked just before the conference season amidst widespread media coverage relentlessly trumpeting it (escape velocity etc) - but if it's on a downleg will the PMI even rate a mention now.

Edited by billybong

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'Difficult to explain' is the sub-heading in this pathetic BBC article.

Easy to explain - get a negative number out there to justify the BoE doing feck all, again.

Q

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Commentary suggests:

Automotive + Aircraft manufacturing sectors good

Most other sectors not good

Extraction (inc North Sea Oil+ Gas) etc absolutely dire.

Edited by koala_bear

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Commentary suggests:

Automotive + Aircraft manufacturing sectors good

Most other sectors not good

Extraction (inc North Sea Oil+ Gas) etc absolutely dire.

Automotive boon paid for by PPI compo?

That wont last.

More "unexpected" news soon?

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Automotive boon paid for by PPI compo?

That wont last.

More "unexpected" news soon?

Export of parts for final assembly into Boeing and Airbus doing well too. RR have an order book of £60+bn.

Agree PPI boom can't last but then again I didn't think it would keep going this long.:blink:

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Export of parts for final assembly into Boeing and Airbus doing well too. RR have an order book of £60+bn.

Agree PPI boom can't last but then again I didn't think it would keep going this long.:blink:

And that PPI money is only enough for the deposit on a new car....

Tick tock.

Even when people get their arses freshly wiped, what do they do?

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Commentary suggests:

Automotive + Aircraft manufacturing sectors good

Most other sectors not good

Extraction (inc North Sea Oil+ Gas) etc absolutely dire.

Ah. The government does seem to be in lala land when it comes to North Sea production...

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http://www.bloomberg.com/news/2013-10-09/u-k-industrial-production-unexpectedly-falls-most-since-2012.html

Those economics experts are worth the money... There blind guess was wrong this month.

So the UK's much promoted manufacturing recovery hits a bit of a problem.

Who needs to make tangible things to sell to people in exchange for their wealth when you've got an innovative banking system creaming off hundreds of millions from access to freshly printed cash and an army of service sector companies sucking from the teat of the public sector funded from the same money printing trough?

Get with the times you luddite!

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