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U.K. manufacturing production rises 0.8% in February

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Investing.com - Manufacturing production in the U.K. rose more-than-expected in February, but the previous month's figure was revised down sharply, official data showed on Tuesday.

In a report, the U.K. Office for National Statistics said that manufacturing production rose by 0.8% in February, beating expectations for a 0.3% increase.

Manufacturing production in January plunged by 1.9%, downwardly revised from a previously reported drop of 1.5%.

The report also showed that industrial production rose by 1% in February, compared to expectations for a 0.3% increase, after falling by 1.3% in January.

On an annualized basis, industrial production fell at rate of 2.2% in February, compared to expectations for a 2.8% decline. Industrial production dropped at a rate of 3.1% in the preceding month.

Following the release of the data, the pound held on to gains against the U.S. dollar, with GBP/USD adding 0.21% to trade at 1.5286.

Meanwhile, European stock markets were higher. London's FTSE 100 rose 0.7%, the EURO STOXX 50 gained 0.9%, France's CAC 40 advanced 0.9%, while Germany's DAX tacked on 0.7%.

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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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