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U.K. manufacturing production jumps 1.9% in June

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Investing.com - Manufacturing production in the U.K. rose significantly more-than-expected in June, fuelling optimism 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 jumped by a seasonally adjusted 1.9% in June, blowing past expectations for a 0.9% increase.

Manufacturing production in May declined by 0.7%.

On an annualized basis, manufacturing production rose at rate of 2% in June, compared to expectations for a 0.9% increase. Manufacturing production dropped at a rate of 2.9% in the preceding month.

The report also showed that industrial production rose by a seasonally adjusted 1.1% in June, beating expectations for a 0.6% increase, after posting a flat reading in May.

Following the release of the data, the pound added to gains against the U.S. dollar, with GBP/USD rising 0.21% to trade at 1.5387.

Meanwhile, European stock markets were mixed. London's FTSE 100 shed 0.2%, the EURO STOXX 50 added 0.2%, France's CAC 40 inched up 0.2%, while Germany's DAX was flat.

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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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