U.K. industrial production grew more-than-expected in February, driven by strong contribution from oil and gas extraction.
Industrial production grew 0.9 percent in February from month ago, when it remained flat, the Office for National Statistics said Tuesday. The February rate far exceeded the 0.3 percent expected growth.
Manufacturing output climbed 1 percent, which was faster than the 0.3 percent rise seen in January. Economists had forecast output to grow by 0.3 percent again in February.
The annual increase in industrial production slowed marginally to 2.7 percent in February from 2.8 percent in January. But the rate exceeded the 2.2 percent growth forecast by economists.
Meanwhile, manufacturing output grew at a faster pace of 3.8 percent annually after rising 3.2 percent a month ago. The annual growth in output was expected to slow marginally to 3.1 percent.
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