U.K. Industrial Output Rebounds In November
(RTTNews) - U.K. industrial production recovered at a faster than expected pace in November, data the Office for National Statistics revealed Wednesday.
Industrial output climbed 2.1 percent in November from October, when production eased 1.1 percent. Output was expected to rise 1 percent.
Similarly, manufacturing output climbed 1.3 percent in contrast to prior month's 1 percent decrease. The 1.3 percent expansion was the biggest since April 2016 and better than the forecast of 0.5 percent.
Year-on-year, industrial output rebounded 2 percent after falling 0.9 percent in October. This was the fastest growth since July and exceeded the expected 0.7 percent rise.
Likewise, manufacturing output expanded 1.2 percent, reversing October's 0.5 percent decrease. A similar faster growth was last seen in January 2015 and stayed above the forecast of 0.4 percent.