Investing.com - Industrial production in the U.K. rose at the fastest pace since June 2013 in February, according to data released on Tuesday.
The Office for National Statistics reported that industrial production increased 0.9%, following a 0.1% increase in January and was up 2.7% on a year over year basis.
Market expectations had been for a monthly gain of 0.3% and an annual increase of 2.2%.
Manufacturing production rose 1.0% in February, the ONS said, compared to expectations for a 0.3% increase. Manufacturing output was 3.8% higher than in the same month last year.
Following the release of that data, the pound jumped to session highs against the U.S. dollar, with GBP/USD rising 0.58% to 1.6704.
Meanwhile, European stock markets remained broadly lower. London’s FTSE 100 was down 0.33%, the DJ Euro Stoxx 50 inched up 0.01%, France''s CAC 40 dipped 0.05%, while Germany''s DAX edged down 0.06%.