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U.K. manufacturing production falls 0.8% in May

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Investing.com - Manufacturing production in the U.K. fell for the second consecutive month in May, underlining concerns over the country's economic outlook, official data showed on Tuesday.

In a report, the U.K. Office for National Statistics said that manufacturing production fell by 0.8% in May, compared to expectations for a 0.3% increase.

Manufacturing production in April declined by 0.2%.

On an annualized basis, manufacturing production fell at rate of 2.9% in May, compared to expectations for a 1.6% decline. Manufacturing production dropped at a rate of 0.9% in the preceding month.

The report also showed that industrial production was flat in May, disappointing expectations for a 0.2% increase, after falling 0.1% in April.

Following the release of the data, the pound was lower against the U.S. dollar, with GBP/USD shedding 0.21% to trade at 1.4921.

Meanwhile, European stock markets were higher. London's FTSE 100 rose 1.2%, the EURO STOXX 50 climbed 0.8%, France's CAC 40 added 0.7%, while Germany's DAX advanced 1.1%.

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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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