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U.K. manufacturing production falls 0.2% in December

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Investing.com -

Investing.com - Manufacturing production in the U.K. fell for the third straight month in December, dampening 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 decreased by a seasonally adjusted 0.2% in December, disappointing expectations for a gain of 0.1% and following a decline of 0.3% a month earlier.

On an annualized basis, manufacturing production fell at rate of 1.7%, worse than estimates for a decline of 1.4%, after declining at a rate of 1.2% in November.

The report also showed that industrial production fell by a seasonally adjusted 1.1%, compared to forecasts for a drop of 0.1% and following a decline of 0.8% in the preceding month.

GBP/USD was at 1.4494 from around 1.4470 ahead of the announcement, while EUR/GBP was at 0.7771 from 0.7779 earlier.

Meanwhile, European stock markets were broadly higher. London's FTSE 100 rose 1.1%, the EURO STOXX 50 tacked on 2.2%, France's CAC 40 rallied 2%, while Germany's DAX advanced 2%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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