UK Manufacturing Growth Slows to 0.5% YoY in June

The UK manufacturing sector experienced a slower pace of growth in June compared to expectations. According to official data from the Office for National Statistics (ONS), production rose by just 0.5% year-on-year, falling short of the forecasted 1.2% increase.

This figure represents a significant slowdown from May's annual growth rate of 1.1%. On a monthly basis, manufacturing output remained flat, failing to meet economists' predictions of a modest 0.2% rise.

The broader production index, which includes mining, energy, and water supply, also underperformed, growing only 0.3% year-on-year in June, below the consensus forecast of 1.0%

This weak performance may influence the Bank of England's monetary policy deliberations as inflation remains above the 2% target.