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In October, UK industry managed to expand at the fastest annual pace in a year. However, a downturn in construction along with a mixed trade performance left experts split as for the outlook for the British economy next year.
The UK economy has lost momentum in 2017 because consumers suffered from higher inflation provoked by sterling's dip after the previous year's Brexit vote, although some exporters have derived benefits from the weaker pound as well as the stronger euro zone economy.
The country’s industrial output jumped 3.6% in October versus 2016, which is the biggest rally since December 2016.
However, in October alone, there was no growth in industrial output, except a 0.1% jump in its factory output component, as the Office for National Statistics informed.
Market experts were split over the data that also demonstrated the sharpest one-month sag in construction output since March last year.
According to business surveys, factories are appreciating demand from a leaping European economy, simultaneously facing a leap in price pressures.
In December, a major measure of American producer prices suddenly slumped and the overall gauge went down more than predicted in the face of lower crude prices, indicating that potential inflation pressures in the American economy are still there…
The level of British consumer price index (CPI) will be released on January 16 at 11:30 MT time.
In November, euro zone industrial output reported its greatest dive for almost three years, as follows from data uncovered on Monday…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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