UK Manufacturing Output Up 1.2% In May

British manufacturing output rose 1.2% on a monthly basis in May, while the industrial production gained 1%, according to the UK Office for National Statistics. British manufacturing fell 1.7% y/y, while industrial production declined 1.6%. However, economists were expecting manufacturing output to decline 0.2% on a monthly basis and 2.2% y/y. Economists were projecting industrial production to drop 0.2% on a monthly basis and 2% year-on-year.