Investing.com - Manufacturing production in the U.K. rose less-than-expected in September, while industrial production fell sharply, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said that manufacturing production inched up by 0.1% in September, missing expectations for a 0.3% increase.
Manufacturing production in August fell by 1.2%, downwardly revised from a previously reported 1.1% drop.
The report also showed that industrial production declined 1.7% in September, compared to expectations for a 0.6% drop, after falling by 0.5% in August.
On an annualized basis, industrial production fell at rate of 2.6% in September, disappointing expectations for a 1.6% decline. Industrial production dropped at a rate of 1% in the preceding month.
Following the release of the data, the pound remained lower against the U.S. dollar, with GBP/USD shedding 0.05% to trade at 1.5973.
Meanwhile, European stock markets were broadly higher. London’s FTSE 100 rose 0.45%, the EURO STOXX 50 added 0.5%, France’s CAC 40 gained 0.6%, while Germany's DAX tacked on 0.45%.
In a report, the U.K. Office for National Statistics said that manufacturing production inched up by 0.1% in September, missing expectations for a 0.3% increase.
Manufacturing production in August fell by 1.2%, downwardly revised from a previously reported 1.1% drop.
The report also showed that industrial production declined 1.7% in September, compared to expectations for a 0.6% drop, after falling by 0.5% in August.
On an annualized basis, industrial production fell at rate of 2.6% in September, disappointing expectations for a 1.6% decline. Industrial production dropped at a rate of 1% in the preceding month.
Following the release of the data, the pound remained lower against the U.S. dollar, with GBP/USD shedding 0.05% to trade at 1.5973.
Meanwhile, European stock markets were broadly higher. London’s FTSE 100 rose 0.45%, the EURO STOXX 50 added 0.5%, France’s CAC 40 gained 0.6%, while Germany's DAX tacked on 0.45%.