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Manufacturing Drives IOP Up Again; IOP Set..>

UK DATA: Manufacturing Drives IOP Up Again; IOP Set to Add to Q3 Growth
-UK Aug Industrial production +0.2% m/m; +1.6% y/y
-UK Aug Manufacturing output +0.4% m/m; +2.8% y/y
-UK Aug Construction output +0.6% m/m; +3.5% y/y
Industrial production expanded for the fifth straight month in Aug, 
courtesy of another robust manufacturing showing. Growth in the 
production of pharmaceuticals and metals drove manufacturing higher in 
August, offset by a fall back in transport equipment and textiles. 
Within transport, which fell 2.6% m/m, the summer shutdown of car plants 
was cited as the prmimary reason for the fall. Mining and quarrying 
output also fell in Aug following delayed plant maintenance at the North 
Sea oil rigs. IOP is set to contribute positively to Q3 GDP growth, 
provided growth comes in higher than -2.5% m/m in Sep. Construction 
would need to grow 1.9% m/m in Sep to avoid falling into recession. 

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