Manufacturing production in the U.K. rose in line with expectations in October, while industrial output topped estimates, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said that manufacturing production increased by a seasonally adjusted 0.4% in October, meeting expectations. Manufacturing production in September rose by 1.2%.
On an annualized basis, manufacturing production rose at rate of 2.7% in October, below forecasts for a 2.9% gain. Manufacturing production increased at a rate of 0.7% in the preceding month.
The report also showed that industrial production rose by a seasonally adjusted 0.4% in October, compared to expectations for a 0.3% increase, after rising 0.9% in September.
Following the release of the data, the pound was little changed against the U.S. dollar, with GBP/USD rising 0.01% to trade at 1.6429.
Meanwhile, European stock markets remained mixed in rangebound trade. London’s FTSE 100 inched up 0.05%, the EURO STOXX 50 dipped 0.1%, France’s CAC 40 shed 0.1%, while Germany''s DAX tacked on 0.1%.
Please LIKE our Facebook page - it makes us stronger: