Economics
U.K. Manufacturing Unexpectedly Slumps Most in 16 Months
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U.K. manufacturing unexpectedly slumped the most in 16 months in May, indicating the economy may have struggled to maintain momentum in the second quarter.
Factory output plunged 1.3 percent from April, the most since January 2013 and the first decline in six months, the Office for National Statistics said today in London. The median forecast of 25 economists in a Bloomberg News survey was for a gain of 0.4 percent. Industrial output fell 0.7 percent, the biggest drop since August 2013.