NIESR Expects BoE to Hike in November

Industrial production in France fell unexpectedly in March, declining -0.30%, according to data from statistics agency Insee on Tuesday. Weaker output in manufacturing, transport and food were the main drags on the metric. The decline fell below analyst expectations of a 0.50% increase. February's industrial production numbers were also revised lower to 1.00% from 1.30%. The same statistic in Germany was also weaker, falling -1.30% and extending declines of -0.50% from February. On a year over year basis, German industrial production grew at a pace of 0.30%, slowing from the 1.30% witnessed in February.

The UK's trade deficit widened to levels unseen since the beginning of the financial crisis in the first quarter of 2016. Widening to 13.27 billion pounds in the first three months of the year, the deficit is up from 12.20 billion pounds since the fourth quarter of 2015, illustrating worries over a potential Brexit. Industrial and manufacturing production data will be released later today, and is estimated to have increased to 0.70% and 0.40% respectively, following declines in both statistics in the prior month.