Published: Fri, June 09, 2017
Markets | By Noel Gibbs

French industrial output falls unexpectedly


Data released by the Office for National Statistics showed increases in private commercial and private housing orders pushed new orders back into growth in the first quarter of the year.

The UK's industrial output rose by much less than expected in April, according to official data.

Likewise, manufacturing output declined 1.2 percent after expanding 2.8 percent in the previous month.

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"U.K. Industrial Output Growth Weaker Than Expected", at 0835GMT, misstated currency conversion in 6th paragraph.

"That said, this is unlikely to spell disaster since the economy has proved pretty resilient to political uncertainty in the recent past".

The figures point to a further slowdown in momentum for the United Kingdom economy following the country's decision to quit the European Union past year and come amid political turmoil after the shock General Election result.

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The goods trade deficit with the rest of the world narrowed to £10.4bn ($13.3bn) from £12bn the month before, as import levels of mechanical machinery, oil and cars fell during the period. Import volumes fell 5.1 percent in April, following a large growth in March 2017, ONS said.

Exports edged down in April from March.

"Britain won't enjoy a trade boost until exporters reduce margins and seek greater market share instead", Samuel Tombs, an economist with Pantheon Macroeconomics, said.

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Construction output also fell month-on-month in April, the ONS said, dropping 1.6% month on month, driven by falls in both fix and maintenance and new work. The Reuters poll had pointed to growth of 0.3 per cent on the month but a fall of 0.4 per cent compared with April a year ago.

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