11/09/2017 - UK Manufacturing Data Supports Sterling Rally


The Pound gained on Friday after manufacturing output grew at the fastest pace this year in July according to figures released by the Office for National Statistics (ONS) said.

Recent manufacturing sector surveys have suggested that it is seeing a pick-up in orders and output as car production rebounded in July. Analysts indicated that car production increasing partly thanks to new models rolling off the production lines".

In addition, earlier this week a study by the manufacturing body EEF said the sector was enjoying "buoyant conditions", with export markets going from "strength to strength". The weakness of the pound - which makes products cheaper for buyers from abroad - has raised hopes of a boost to UK exports.

The news wasn't all positive however because despite the improvement in manufacturing output in July, the ONS figures showed the wider measure of industrial output rose by just 0.2%, slowing from June's increase of 0.5%.

Brexit was again in the tabloids over the weekend when Tony Blair and Andrew Adonis, his former Downing Street policy chief made separate if coordinated proposals for new controls on UK migration. 

Theresa May’s parliamentary deal with the Democratic Unionist party will face a judicial challenge in the divisional court in London within the next few weeks after a crowdfunded legal challenge brought by Ciaran McClean, a Green party activist in Northern Ireland.

The basis of the claim is that any political agreement between the government and the DUP is in breach of the Good Friday agreement under which the government undertook to exercise its power in Northern Ireland “with rigorous impartiality on behalf of all the people in the diversity of their identities and traditions”. The legal challenge also argues that the political deal breaches the Bribery Act 2010 and is in any event unlawful as a corrupt arrangement.

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