UK Industrial production rose by 0,3% in July compared with June, announced today the country's statistical office. The index of activity in manufacturing industries (the heart of industry) is also added 0.3%. While on the manufacturing industries (manufacturing production) statistics coincided with expectations, overall the industry (industrial production) expect higher growth figures: 0,4-0,5% m / m. The report was very well received by the market, as demonstrated acceleration of annual growth in manufacturing up 4.9%, the biggest increase since late 1994-th. However, it should be noted that exactly a year earlier, the index showed the decline of 13,2% y / y, and now its level at 12.1% below the peak value.
This shows that the current "record" growth no more than a pale attempt to restore at least some of the lost positions during the recession in the late 2000's. Nevertheless, sterling today is in demand on the background of news on the housing market and mergers and acquisitions. A few hours before a report on the production it became known that the index of home prices from the Halifax over unexpectedly added 0.2% in August. Almost simultaneously became aware of Vodafone's intention to sell 4 billion for its share in China Mobile. As before, this news is unlikely to fundamentally change the situation a couple of pound / dollar, but compared to the euro will pound much more attractive.
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