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Prior +0.1%; revised to 0.0%Services +0.2% vs +0.1% m/m expectedPrior 0.0%; revised to -0.1%Industrial output -2.0% vs -0.2% m/m expectedPrior +0.4%; revised to +0.3%Manufacturing output -1.7% vs -0.3% m/m expectedPrior +0.7%; revised to +0.6%Construction output +0.2% vs +0.1% m/m expectedPrior -0.3%; revised to -0.5%Despite modest growth in services, it is the industry sector that proved a drag for the UK economy at the end of Q3. The negative headline print alongside the downside revision to August makes for a poorer Q3 report overall here. This will keep the pressure on the BOE to have to cut rates sooner rather than later. GBP/USD is down to 1.3109 now from around 1.3121 before the data.
This article was written by Justin Low at investinglive.com.
đź’ˇ DMK Insight
The latest industrial output figures are a wake-up call for traders: a sharp -2.0% drop against expectations could signal deeper economic issues. While services showed a slight uptick of +0.2%, the significant declines in manufacturing and construction output raise red flags. Manufacturing output fell -1.7%, much worse than the expected -0.3%, indicating potential weakness in consumer demand and supply chain disruptions. This could lead to volatility in related sectors, particularly in commodities and equities tied to manufacturing. Traders should keep an eye on the broader economic indicators, as these numbers could influence central bank policies moving forward. If this trend continues, we might see a shift in market sentiment, potentially leading to a risk-off environment. Watch for key support levels in related assets, especially if the market reacts negatively to these figures. A break below recent lows could trigger further selling pressure, while a rebound might depend on upcoming economic data releases. Keep an eye on the next monthly report for any signs of recovery or further deterioration.
đź“® Takeaway
Traders should monitor industrial output closely; a sustained decline could lead to broader market sell-offs, especially in manufacturing-related assets.
