UK manufacturing output sank in July
Industrial production in fact grew more quickly than expected in July as a sharp jump in mining production more than offset a surprisingly weak performance from manufacturers in the wake of the Brexit vote.
Total output expanded by 0.1% month-on-month, according to the Office for National Statistics, besting forecasts for a drop of 0.2%.
Manufacturing production on the other hand sank 0.9% over the month its biggest fall in a year and third consecutive monthly decline.
Acting as an offset, the always volatile mining sector boosted production by 4.7% month-on-month, with output from energy and water supply rising by 0.4% and 0.7%, respectively.
Overall, the data pointed to Britain's gross domestic product stagnating in the third quarter or, possibly, shrinking slightly, according to economists. ■