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U.K. Industrial, manufacturing output beat forecast
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Publish Date07/09/2012 08:42:44 AM
Last Update07/09/2012 08:57:45 AM
Industrial output in the U.K. grew unexpectedly by 2.9 percent in July, following revised contraction of 2.4 percent in June, beating analysts` median estimate of 1.5 percent growth.
On the year, industrial production contracted 0.8 percent, after falling 3.8 percent in June, but better than expectations of 2.7 percent contraction.
Manufacturing output also grew at faster-than-expected pace in July, as the index rose 3.2 percent, after falling 2.9 percent up from expectations of 1.8 percent rise.
Moreover, the index fell at an annual rate of 0.5 percent, but was better than 3.9 percent contraction in June, beating expected decline of 2.4 percent.
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