UK: Manufacturing and industrial production likely to post 0.4% gain in June - Nomura

Analysts at Nomura are forecasting a 0.4% monthly rise in both manufacturing and industrial production in June for the UK economy.

Key Quotes

“Official indicators of manufacturing output have been surprisingly weak over the past few months (declining in four out of the past five months), despite recent strength in the surveys – notably the CBI and PMI reports. Exports seem to be holding up well as a result of sterling’s past falls and the strengthening world economy. We think that a rebound of production is overdue and forecast a 0.4% monthly rise in both manufacturing and industrial production in June.”