LONDON – The UK's trade gap widened and manufacturing output fell in the three months to May, according to the latest data from the Office of National Statistics.
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UK ECONOMY: Manufacturing and exports are diving
The UK trade deficit with the rest of the world increased from £6.9 billion to £8.9 billiion from the previous three months, the ONS said.
Going down!
The UK trade deficit with the rest of the world increased from £6.9 billion to £8.9 billion from the previous three months, the ONS said.
This "reflects a higher rise in imports than the rise in exports of goods, in particular transport equipment (cars, aircraft and ships), oil and electrical machinery from non-EU countries; a decrease in exports of services also contributed," the ONS said.
The UK's construction output suffered its largest three-month fall since September 2012, dropping 1.2% in the quarter ending May 2017, "driven by falls in both repair and maintenance, and all new work."
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Meanwhile, the UK's index of production, which measures manufacturing and energy output, fell 1.2% in the three-month period.
"The largest contribution to the fall in manufacturing came from the highly volatile pharmaceutical industry along with a range of other industries while the fall in energy supply was due largely to warmer temperatures," the ONS said.
Here's the chart:
And here's the trade balance:
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