U.K. manufacturing production rises 1.2% in September; pound gains

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Investing.com - " Manufacturing production in the U.K. rose more-than-expected in September, boosting optimism over the country's economic outlook, official data showed on Wednesday.

In a report, the U.K. Office for National Statistics said that manufacturing production increased by a seasonally adjusted 1.2% in September, above expectations for a 1.1% increase.

Manufacturing production in August fell by 1.2%.

On an annualized basis, manufacturing production rose at rate of 0.8% in September, beating forecasts for a 0.7% gain. Manufacturing production dropped at a rate of 0.2% in the preceding month.

The report also showed that industrial production rose by a seasonally adjusted 0.9% in September, compared to expectations for a 0.5% increase, after falling 1.1% in August.

Following the release of the data, the pound added to gains against the U.S. dollar, with GBP/USD rising 0.44% to trade at 1.6113.

Meanwhile, European stock markets remained higher. London's FTSE 100 added 0.1%, the EURO STOXX 50 rose 0.75%, France's CAC 40 advanced 0.75%, while Germany's DAX tacked on 0.4%.

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