U.K. Shows ‘Mixed Picture’ as Output Rises, Trade Deficit Widens
- Industrial production rises 0.2%, imports continue to rise
- Figures unlikely to deter Bank of England from raising rates
Mizuho's Chatwell: U.K. Not Strong Enough for Rate Hike
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A picture of an economy struggling to gain momentum emerged in U.K. figures published Tuesday.
Industrial production rose 0.2 percent in August, boosted by a better-than-expected manufacturing performance, and construction clawed back some of the losses sustained in July, the Office for National Statistics said. But the trade deficit unexpectedly widened to the most in almost a year as imports jumped.