There was bad news for the UK today, with latest figures showing manufacturing output continued to flounder in October. National Statistics this morning reported that output fell 0.7pc from the previous month for a 2.4pc year-on-year drop, according to figures released today by National Statistics. The monthly fall was the biggest since January, excluding the massive slump in June - a distortion caused by the Jubilee holiday effect during the month. October's figures were way below economists' forecasts of a 0.1pc monthly rise and a 1.7pc year-on-year fall. In September, a 0.4pc and 2.6pc falls were registered on a month-on-month and year-on-year basis respectively. However, in the three months to October, manufacturing output rose 0.7pc from the previous three months, but slipped 2.9pc compared with the same three months a year ago.//www.fxcentre.com