Investing.com - Manufacturing production in the U.K. rose less than expected in June, while industrial output also came in below forecasts, official data showed on Wednesday.
In a report, the U.K. Office for National Statistics said that manufacturing production inched up by a seasonally adjusted 0.3% in June, disappointing expectations for a gain of 0.6%. Manufacturing production in May dropped by 1.3%.
On an annualized basis, manufacturing production rose at rate of 1.9% in June, below forecasts for a 2.1% increase, after rising at a rate of 3.7% in the preceding month.
The report also showed that industrial production rose by a seasonally adjusted 0.3% in June, compared to expectations for a 0.6% gain, after falling 0.6% in May.
Following the release of the data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.28% to trade at 1.6839, compared to 1.6856 ahead of the report.
Meanwhile, European stock markets remained lower. London’s FTSE 100 declined 0.65%, the DJ Euro Stoxx 50 dropped 0.8%, France’s CAC 40 slumped 0.65%, while Germany's DAX fell 0.9%.