Manufacturing Production m/m comes in at -0.5% against -0.2% consensus

UK Manufacturing Production month over month registered -0.5% for the latest period. This figure came in below the consensus estimate of -0.2%. The previous month’s reading was 0.4%, indicating a notable decline in manufacturing output. The actual print represented a -150.0% surprise relative to the consensus forecast.

Following the release, the British Pound showed varied movements against major currencies over the initial 15 minutes. GBPUSD moved -3.7 pips, while GBPAUD saw a -4.9 pip change. GBPCAD moved +1.3 pips, and GBPJPY gained +8.2 pips. GBPNZD advanced +9.2 pips. EURGBP saw a -0.6 pip change, and GBPCHF remained flat at 0.0 pips. These initial movements are generally small when compared to the median 1-hour moves observed after similar past releases, such as the median 16 pips for GBPUSD or 17 pips for GBPJPY.