Investing.com – Manufacturing production in the U.K. rose more-than-expected in September, rising for the first time in three months, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said that manufacturing production rose by 0.2% in September, slightly above expectations for a 0.1% increase.
Manufacturing production declined by an unrevised 0.3% in August.
Year-on-year, manufacturing production rose at an annualized rate of 2.0%, beating expectations for a 1.9% gain, after rising at a rate of 1.6% in August.
The report showed that industrial production was flat in September, confounding expectations for a 0.1% gain.
The previous month’s figure was revised up to a 0.3% gain from a previously reported increase of 0.2%.
Industrial production declined at an annualized rate of 0.7% in September, compared with expectations for a 0.8% drop. Industrial production fell at a rate of 0.9% in the previous month.
The ONS said that the Industrial Output data will have negligible downward impact on GDP for the third quarter.
Following the release of the data, the pound was modestly higher against the U.S. dollar, with GBP/USD adding 0.12% to trade at 1.6074.
Meanwhile, European stock markets were broadly higher after the open. The FTSE 100 rose 1.25%, the EURO STOXX 50 jumped 1.75%, France’s CAC 40 gained 1.45%, while Germany's DAX jumped 1.5%.
In a report, the U.K. Office for National Statistics said that manufacturing production rose by 0.2% in September, slightly above expectations for a 0.1% increase.
Manufacturing production declined by an unrevised 0.3% in August.
Year-on-year, manufacturing production rose at an annualized rate of 2.0%, beating expectations for a 1.9% gain, after rising at a rate of 1.6% in August.
The report showed that industrial production was flat in September, confounding expectations for a 0.1% gain.
The previous month’s figure was revised up to a 0.3% gain from a previously reported increase of 0.2%.
Industrial production declined at an annualized rate of 0.7% in September, compared with expectations for a 0.8% drop. Industrial production fell at a rate of 0.9% in the previous month.
The ONS said that the Industrial Output data will have negligible downward impact on GDP for the third quarter.
Following the release of the data, the pound was modestly higher against the U.S. dollar, with GBP/USD adding 0.12% to trade at 1.6074.
Meanwhile, European stock markets were broadly higher after the open. The FTSE 100 rose 1.25%, the EURO STOXX 50 jumped 1.75%, France’s CAC 40 gained 1.45%, while Germany's DAX jumped 1.5%.