UK industrial and manufacturing output fell further in September, according to the ONS.
Industrial production fell by 0.2pc, equating to a Q3 contraction of 1.1pc, while manufacturing output dipped by 0.8pc, bringing the quarterly decline to 1.3pc. The official data follows that from the Chartered Institute of Purchasing and Supply, which revealed a further contraction of manufacturing output in October. Benjamin Williamson, economist at cebr, said: "Today's news that industrial and manufacturing output continues to fall increases the possibility of a sharp interest rate cut when the Monetary Policy Committee meets on Thursday. We had expected a reduction of 50 basis points...
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