Investing.com – Manufacturing production in the U.K. rose more-than-expected in January, official data showed on Thursday.
In a report, the U.K. Office for National Statistics said that manufacturing production rose by a seasonally adjusted 1.0% in January, after dipping by 0.1% in December.
Economists had expected manufacturing production to rise by 0.8% in January.
The report showed that year-on-year, manufacturing production rose at an annualized rate of 6.8% in January, after rising by 4.4% in December. Analysts had expected year-on-year manufacturing production to rise by 6.3% in January.
Meanwhile, the report also showed that industrial production rose more-than-expected in January, increasing by 0.5%, after rising by 0.6% in December, surpassing expectations for a rise of 0.4%.
Following the release of the data, the pound was down against the U.S. dollar, with GBP/USD shedding 0.24% to hit 1.6163.
Meanwhile, European stock markets were down. The FTSE 100 declined 0.58%, the EURO STOXX 50 slumped 0.43%, France’s CAC 40 dropped 0.39%, while Germany's DAX fell 0.36%.
In a report, the U.K. Office for National Statistics said that manufacturing production rose by a seasonally adjusted 1.0% in January, after dipping by 0.1% in December.
Economists had expected manufacturing production to rise by 0.8% in January.
The report showed that year-on-year, manufacturing production rose at an annualized rate of 6.8% in January, after rising by 4.4% in December. Analysts had expected year-on-year manufacturing production to rise by 6.3% in January.
Meanwhile, the report also showed that industrial production rose more-than-expected in January, increasing by 0.5%, after rising by 0.6% in December, surpassing expectations for a rise of 0.4%.
Following the release of the data, the pound was down against the U.S. dollar, with GBP/USD shedding 0.24% to hit 1.6163.
Meanwhile, European stock markets were down. The FTSE 100 declined 0.58%, the EURO STOXX 50 slumped 0.43%, France’s CAC 40 dropped 0.39%, while Germany's DAX fell 0.36%.