The producer price index (PPI) input and output data was released by the UK’s Office of National Statistics this morning and revealed a potential decline in the inflationary growth of raw materials. The price paid by manufacturers for the purchase of raw materials dropped 1.9% this month, lower than the forecast decline of 1.6%.
The input data translated to a slower increase in the price of goods sold by manufacturers as well. The percent change in output prices rose by only 0.1% this month instead of the expected 0.2% growth. The data signals a potential contraction in manufacturing growth which could translate into fewer jobs and a sluggish economy in Britain.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
