Manufacturing News

U.K. manufacturing output fell the most in almost 17 years

By David Goodman for Bloomberg

Jun 10, 2019

U.K. manufacturing output fell the most in almost 17 years in April as the boost from Brexit stockpiling evaporated and car producers went ahead with planned shutdowns.

The 3.9% decline, the most since June 2002, saw the economy as a whole shrink for a second straight month, Office for National Statistics figures published Monday show. Vehicle production plunged by a quarter.

Gross domestic product fell 0.4%, the biggest monthly drop since March 2016, leaving the economy at risk of a sharp slowdown this quarter. Growth in the latest three months was a weaker-than-forecast 0.3%, down from 0.5% in the first quarter.

The pound dropped after the figures were published, and was 0.4% lower at $1.2688 as of 9:36 a.m. London time.

To learn more, read "U.K. Economy Shrinks as Factory Output Falls Most Since 2002" from Bloomberg.

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