Investing.com – Manufacturing production in the U.K. rose in line with expectations in July, increasing for the third consecutive month, official data showed on Wednesday.
In a report, the U.K. Office for National Statistics said that manufacturing production rose a seasonally adjusted 0.3% in July, after rising 0.3% in June.
The increase was in line with expectations, as analysts had forecasted a 0.3% rise in July.
The report showed that year-on-year, manufacturing production rose 4.9% in July, in line with expectations. The rise in the year to July was the largest increase in 16 years.
The data primarily reflected significant gains in machinery and equipment, textiles and leather clothing, and paper, printing and publishing while transport equipment output posted the largest decline.
Meanwhile, the report also showed that industrial production rose less-than-expected, posting an increase of 0.3%, after declining 0.5% in June.
Analysts had expected industrial production to rise 0.4% in July.
Following the release of the data, the pound was up against the U.S. dollar, with GBP/USD gaining 0.48% to hit 1.5433.
In a report, the U.K. Office for National Statistics said that manufacturing production rose a seasonally adjusted 0.3% in July, after rising 0.3% in June.
The increase was in line with expectations, as analysts had forecasted a 0.3% rise in July.
The report showed that year-on-year, manufacturing production rose 4.9% in July, in line with expectations. The rise in the year to July was the largest increase in 16 years.
The data primarily reflected significant gains in machinery and equipment, textiles and leather clothing, and paper, printing and publishing while transport equipment output posted the largest decline.
Meanwhile, the report also showed that industrial production rose less-than-expected, posting an increase of 0.3%, after declining 0.5% in June.
Analysts had expected industrial production to rise 0.4% in July.
Following the release of the data, the pound was up against the U.S. dollar, with GBP/USD gaining 0.48% to hit 1.5433.