U.K. industrial production grew more than expected in March, but the rate of increase eased from the prior month, data showed Thursday.
Industrial output advanced 0.7 percent month-on-month, down from 0.9 percent rise logged in February, the Office for National Statistics said. But it far exceeded the 0.2 percent rise forecast by economists.
The growth in manufacturing accelerated to 1.1 percent from 0.7 percent, while mining output dipped 2 percent, reversing last month's 2 percent increase. Oil and gas extraction shrank 1.8 percent.
On a yearly basis, industrial production fell 1.4 percent in March, but slower than the 2.5 percent decrease seen in the prior month. Similarly, the decline in manufacturing slowed to 1.4 percent from 1.6 percent. Economists had forecast a 1.6 percent fall in industrial output and a 2 percent drop in manufacturing.
For comments and feedback: editorial@rttnews.com