Reports released by the British Office of National Statistics this morning revealed a much-feared decline in manufacturing and industrial output by the island powerhouse. The highly impactful Manufacturing Production indicator showed a dismal 0.4% decline, month-on-month, in July.
The manufacturing figure’s counterpart indicator on industrial production also underscored utter stagnation with 0% growth in July. The data comes at the worst possible time for Britain as unrest begins to grow and the nation’s economy struggles in this time of uncertainty. Furthermore, Britain’s trade deficit widened this past month to 8.9B from 8.5B.
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