Investing.com - Manufacturing production in the U.K. rose sharply in November, boosting optimism over the country’s economic outlook, official data showed on Wednesday.
In a report, the U.K. Office for National Statistics said that manufacturing production increased by a seasonally adjusted 1.3%, surpassing expectations for a gain of 0.5% and following a decline of 1.0% a month earlier.
On an annualized basis, manufacturing production rose at rate of 1.2%, better than estimates for a gain of 0.4%, after declining at a rate of 0.5% in October.
The report also showed that industrial production increased by a seasonally adjusted 2.1%, compared to forecasts for a gain of 0.8% and following a decline of 1.1% in the preceding month.
GBP/USD was at 1.2153 from around 1.2150 ahead of the announcement, while EUR/GBP was at 0.8678 from 0.8673 earlier.
Meanwhile, European stock markets were mixed. London’s FTSE 100 rose 0.1%, the EURO STOXX 50 shed 0.1%, France's CAC 40 dipped 0.1%, while Germany's DAX advanced 0.1%.