Investing.com - Manufacturing production in the U.K. rose more than expected in January, while industrial output came in below forecasts, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said that manufacturing production inched up by a seasonally adjusted 0.4% in January, above expectations for a 0.3% gain. Manufacturing production in December was revised up to a 0.4% increase from a previously reported gain of 0.3%.
On an annualized basis, manufacturing production rose at rate of 3.3% in January, in line with forecasts, after rising at a rate of 1.4% in the preceding month.
The report also showed that industrial production eased up by a seasonally adjusted 0.1% in January, below expectations for a 0.2% increase, after rising 0.5% in December.
Following the release of the data, the pound held on to losses against the U.S. dollar, with GBP/USD shedding 0.1% to trade at 1.6628.
Meanwhile, European stock markets remained mixed in rangebound trade. London’s FTSE 100 inched down 0.2%, the EURO STOXX 50 picked up 0.1%, France’s CAC 40 shed 0.1%, while Germany's DAX tacked on 0.1%.