Investing.com – Manufacturing production in the U.K. rose significantly more-than-expected in December, increasing for the first time in three months, official data showed on Thursday.
In a report, the U.K. Office for National Statistics said that manufacturing production rose by 1.0% in December, blowing past expectations for a modest 0.3% increase.
November’s figure was revised to a 0.1% decline from a previously reported drop of 0.2%.
Year-on-year, manufacturing production rose at an annualized rate of 0.8% last month, compared to expectations for a 0.3% gain, after falling at a rate of 1.0% in November.
Industrial production rose 0.5% in December, above expectations for a 0.2% gain. Industrial production in November was revised to a 0.5% decline from a previously reported 0.6% fall.
On an annualized basis, industrial production declined at rate of 3.3% in December, disappointing expectations for a 3.1% drop. Industrial production fell at a rate of 3.6% in the previous month.
Following the release of the data, the pound added to gains against the U.S. dollar, with GBP/USD rising 0.23% to trade at 1.5855.
Meanwhile, European stock markets were broadly higher after the open. London’s FTSE 100 gained 0.45%, the EURO STOXX 50 rose 0.75%, France’s CAC 40 added 0.75%, while Germany's DAX surged 0.95%.
In a report, the U.K. Office for National Statistics said that manufacturing production rose by 1.0% in December, blowing past expectations for a modest 0.3% increase.
November’s figure was revised to a 0.1% decline from a previously reported drop of 0.2%.
Year-on-year, manufacturing production rose at an annualized rate of 0.8% last month, compared to expectations for a 0.3% gain, after falling at a rate of 1.0% in November.
Industrial production rose 0.5% in December, above expectations for a 0.2% gain. Industrial production in November was revised to a 0.5% decline from a previously reported 0.6% fall.
On an annualized basis, industrial production declined at rate of 3.3% in December, disappointing expectations for a 3.1% drop. Industrial production fell at a rate of 3.6% in the previous month.
Following the release of the data, the pound added to gains against the U.S. dollar, with GBP/USD rising 0.23% to trade at 1.5855.
Meanwhile, European stock markets were broadly higher after the open. London’s FTSE 100 gained 0.45%, the EURO STOXX 50 rose 0.75%, France’s CAC 40 added 0.75%, while Germany's DAX surged 0.95%.