(MENAFN- FxPro) Manufacturing production in the U.K. rose more than expected in March, while industrial output also topped forecasts, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said that manufacturing production increased by a seasonally adjusted 0.4% in March, beating expectations for an increase of 0.3% and following a 0.5% gain in the preceding month.
On an annualized basis, manufacturing production rose at rate of 1.1%, above estimates for a gain of 1.0%, after rising at a rate of 1.2% in February.
The report also showed that industrial production rose by a seasonally adjusted 0.5% in March, compared to expectations for a 0.1% gain, after increasing 0.1% in February.
GBP/USD was trading at 1.5601 from around 1.5573 ahead of the announcement, while EUR/GBP was at 0.7206 from 0.7221 earlier.
Meanwhile, European stock markets held on to losses. London's FTSE 100 dropped 1.15%, the EURO STOXX 50 climbed 1.3%, France's CAC 40 rallied 1.45%, while Germany's DAX tacked on 1.2%.
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