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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