Week in Review - 8th July, 2011

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↑ Index of ProductionTotal manufacturing output was 2.8% higher in May 2011 than in the same month in 2010. Between April and May 2011, manufacturing output increased by 1.8% following a dip of 1.5% the month before as a result of the Japanese disaster and additional bank holiday.
↔ MPC rate decisionThe Bank of England held interest rates at 0.5% and the size of the asset purchase programme at £200bn.
↑ Producer Price IndexIn the year to June input prices rose 17.0%, up from 16.1% in the year to May. Within this crude oil prices rose 40.4%, the highest annual rate since April 2010. Output prices rose by 5.7% in the year to June, up from 5.4% the month before.
The week ahead
Tue 12th: UK Trade; Consumer Prices
Wed 13th: Labour Market Statistics
Thu 14th: EEF Pay Settlements


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