U.K. Industrial Output Growth Tops Expectations

U.K. industrial output rebounded at a faster than expected pace in August, data from the Office for National Statistics showed Wednesday.

Industrial output grew 1 percent from July, reversing a 0.3 percent drop in the prior month. Economists had forecast a 0.3 percent rise for August.

At the same time, manufacturing advanced 0.5 percent, partially offsetting a 0.7 percent fall in July. It was faster than the expected 0.3 percent increase.

On a yearly basis, industrial output growth accelerated to 1.9 percent in August from 0.7 percent in July. This was the fastest growth since April 2014, when it climbed 2.4 percent and also better than the 1.2 percent expansion forecast by economists.

At the same time, manufacturing output continued to decline in August. Nonetheless, it fell at a slower pace of 0.8 percent after decreasing 1.2 percent in July. Economists had forecast a 0.2 percent drop.

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