Economics
U.K. Manufacturing, Export Slump Give BOE Reason for Caution
Total production fell 0.4 percent from June, the Office for National Statistics said in London on Wednesday.
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U.K. industrial production unexpectedly declined and goods exports plunged the most in nine years, indicating a loss of economic momentum that may keep the Bank of England on a cautious policy footing.
Total production fell 0.4 percent in July, the Office for National Statistics said in London on Wednesday, missing economists’ forecasts for a 0.1 percent increase. Sales of British goods abroad fell 9.2 percent, contributing to the biggest drop in factory output since January.