-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
MNI DATA ANALYSIS: Nov IoP, Construction Both Rise>
-UK Nov IoP +0.4% m/m; +2.5% y/y; Manufacturing +0.4% m/m; +3.5% y/y
-UK Nov Construction +0.4% m/m; +0.4% y/y
By Laurie Laird and Jamie Satchithanantham
London (MNI) - Output in both the industrial and construction
sectors expanded in November, despite a sharp fall in motor vehicle
production, leaving production poised to exert a positive influence on
third quarter gross domestic product.
Total production rose by 0.4% in November, matching the MNI median
forecast, after an upwardly-revised 0.2% gain in October. On an annual
basis, production increased by 2.5%, exceeding the MNI median prediction
of a 1.8% rise.
That means production could fall by 3.1% in December -- a decline
not recorded since September of 2012 -- and still leave fourth quarter
output on level pegging with the third quarter, according to a National
Statistics official.
A 3.2% jump in energy supply accounted for nearly all of the
increase in industrial output, contributing 0.36 percentage points to
the total increase.
That countered a 7.1% plunge in motor vehicle production, the
biggest fall since August of 2014. Production of cars earmarked for
export buoyed industrial output in September and October. Production of
transport equipment subtracted 0.38 percentage points from total output.
But manufacturing managed to remain in the black, rising by 0.4%
between October and November, registering a 3.5% annual gain, topping
the MNI median forecast of a 0.3% monthly gain and a 2.8% annual rise.
A 2.8% jump in the "Other Manufacturing and Repair" category
accounted for much of the strength in the sector, which includes
jewellery, musical instruments and toys. The official could provide no
further information.
Over the third quarter, total output rose by 1.3%, matching the
outturn contained in the third estimate of gross domestic production
released last month. Production, which accounts for 14.0% of economic
output, added 0.2 percentage points to total growth of 0.4%.
Meanwhile, construction output rose by 0.4% in November, rising by
0.4% over the same period of 2016.
That means construction must rise by a record-high 5.1% in December
to leave fourth quarter output on par with output in the third quarter,
according to an official.
Over the third quarter, construction declined by 0.5%, in line with
the latest estimate of GDP. Construction, which accounts for 6.1% of
total output, exerted a neutral effect on GDP growth.
-London bureau: 44 (0) 203 865 3812; email: ukeditorial@marketnews.com
[TOPICS: M$B$$$,MABDS$]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.