Investing.com - Manufacturing production in the U.K. fell unexpectedly in May, while industrial output also declined, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said that manufacturing production tumbled by a seasonally adjusted 1.3% in May, disappointing expectations for a gain of 0.4%.
Manufacturing production in April was revised down to a 0.3% gain from a previously reported increase of 0.4%.
On an annualized basis, manufacturing production rose at rate of 3.7% in May, below forecasts for a 5.6% increase, after rising at a rate of 4.3% in the preceding month.
The report also showed that industrial production declined by a seasonally adjusted 0.7% in May, compared to expectations for a 0.2% gain, after rising 0.3% in April.
Following the release of the data, the pound turned lower against the U.S. dollar, with GBP/USD shedding 0.2% to trade at 1.7094, compared to 1.7133 ahead of the report.
Meanwhile, European stock markets held on to losses. London’s FTSE 100 inched down 0.35%, the DJ Euro Stoxx 50 dipped 0.3%, France’s CAC 40 eased down 0.25%, while Germany's DAX slumped 0.4%.