UK industrial output (annual rate) for June released: -0.2%

UK June industrial output annual rate fell to -0.2%, missing the 0.2% forecast and 1.0% prior, signaling manufacturing contraction and bolstering rate cut bets.

The UK’s annualized industrial production figure for June came in at -0.2%, lower than the expected 0.2% and the previous value of 1.0%. This significant deviation from expectations indicated a sharp contraction in manufacturing activity, which could strengthen market expectations for accommodative monetary policy.