Forexpros – Manufacturing production in the U.K. rose more-than-expected in March, advancing for the first time in three months, official data showed on Thursday.
In a report, the U.K. Office for National Statistics said that manufacturing production rose by 0.9% in March, beating expectations for a 0.5% increase.
February’s figure was revised to a 1.1% decline from a previously reported drop of 1.0%.
Year-on-year, manufacturing production fell at an annualized rate of 0.9% in March, compared to expectations for a 1.3% decline, after falling at a rate of 1.5% in February.
Industrial production dipped 0.3% in March, in line with expectations, after rising by an unrevised 0.4% in February.
On an annualized basis, industrial production declined at rate of 2.6% in March, matching forecasts. Industrial production fell at a rate of 2.3% in the preceding month.
Following the release of the data, the pound trimmed losses against the U.S. dollar but remained lower, with GBP/USD shedding 0.1% to trade at 1.6110.
Meanwhile, European stock markets were mixed. London’s FTSE 100 dipped 0.1%, the EURO STOXX 50 rose 0.15%, France’s CAC 40 shed 0.45%, while Germany’s DAX eased up 0.2%.
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