UK industrial production barely grew in June as the economy lost momentum before the Brexit referendum, Bloomberg reported. Output rose 0.1% following a 0.6% drop in May, the Office for National Statistics said in London. Manufacturing declined for a second month. Separate figures suggested the trade deficit continued to weigh on economic growth in the second quarter. While growth accelerated to 0.6%, the improvement was heavily centered on April. In June, factory output fell 0.3% after declining 0.6% in May. Nine of 13 manufacturing sectors showed declines, with the biggest downward contribution coming from transport equipment, in particular motor vehicles. Utilities increased output by 0.9% and oil and gas extraction rose 1.5%.
