BLBG:Pound Remains Weaker as Data Shows Manufacturing Fell More Than Estimated
The pound stayed weaker against the dollar and euro after a report showed U.K. manufacturing fell more than analysts estimated in August, adding to signs that the recovery continued to struggle in the third quarter.
The pound traded 0.2 percent weaker at $1.5634 as of 9:34 a.m. in London and was 0.1 percent down at 87.15 pence per euro. Yields on 10-year gilts were little changed at 2.58 percent.
Factory output fell 0.3 percent from July, when it declined a revised 0.2 percent, the Office for National Statistics said today in London. The median forecast of 24 economists in a Bloomberg News survey was for manufacturing to fall 0.2 percent. Overall industrial output, which includes mining and oil and gas, rose 0.2 percent on the month.
To contact the reporter on this story: Garth Theunissen in London at gtheunissen@bloomberg.net
To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net
