Disappointing economic data pushed British Pound down

Disappointing economic data pushed British Pound down

Dec 09 2014

The pound retreated slightly against the U.S Dollar after the release of disappointing manufacturing data from the British economy.

The U.K office for National statistics reported that U.K manufacturing production has decreased to -0.7 % in the month of October, which was lower than expectations (0.2%) and lower than the reading of the previous month.  

The report showed also that industrial production fell 0.1% in October, compared to expectations for an increase of 0.2%, and lower than then previous reading of 0.7% in September.

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