Investing.com – Manufacturing production in the U.K. fell more-than-expected in November, declining for the second consecutive month, official data showed on Thursday.
In a report, the U.K. Office for National Statistics said that manufacturing production fell by 0.2% in November, disappointing expectations for a modest 0.1% decline.
October’s figure was revised down to a 0.9% drop from a previously reported 0.7% decline.
Year-on-year, manufacturing production fell at an annualized rate of 0.6%, compared to expectations for a 0.3% decline, after rising at a rate of 0.3% in October.
Industrial production fell 0.6% in November, confounding worse than expectations for a 0.1% decline. Industrial production in September was revised to a 1.0% drop from a previously reported 0.7% decline.
On an annualized basis, industrial production declined at rate of 3.1% in November, compared with expectations for a 2.2% drop. Industrial production fell at a rate of 1.7% in the previous month.
Following the release of the data, the pound remained lower against the U.S. dollar, with GBP/USD shedding 0.2% to trade at 1.5299.
Meanwhile, European stock markets were broadly higher after the open. The FTSE 100 eased up 0.1%, the EURO STOXX 50 rose 0.65%, France’s CAC 40 added 0.45%, while Germany's DAX gained 0.4%.
In a report, the U.K. Office for National Statistics said that manufacturing production fell by 0.2% in November, disappointing expectations for a modest 0.1% decline.
October’s figure was revised down to a 0.9% drop from a previously reported 0.7% decline.
Year-on-year, manufacturing production fell at an annualized rate of 0.6%, compared to expectations for a 0.3% decline, after rising at a rate of 0.3% in October.
Industrial production fell 0.6% in November, confounding worse than expectations for a 0.1% decline. Industrial production in September was revised to a 1.0% drop from a previously reported 0.7% decline.
On an annualized basis, industrial production declined at rate of 3.1% in November, compared with expectations for a 2.2% drop. Industrial production fell at a rate of 1.7% in the previous month.
Following the release of the data, the pound remained lower against the U.S. dollar, with GBP/USD shedding 0.2% to trade at 1.5299.
Meanwhile, European stock markets were broadly higher after the open. The FTSE 100 eased up 0.1%, the EURO STOXX 50 rose 0.65%, France’s CAC 40 added 0.45%, while Germany's DAX gained 0.4%.