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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