UK industrial production rebounds beyond expectations in Nov
|The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Wednesday, showing that the overall industrial output staged a solid rebound in November, much-stronger than markets had expected.
Manufacturing output jumped 1.3% m/m in Nov versus a revised 1.0% drop seen in Oct, while total industrial output also showed a stellar performance on monthly basis, with the figures rising sharply by 2.1% in the reported month, against a 0.8% increase expected and a 1.1% fall seen in Oct.
On annualized basis, UK manufacturing production also expanded 1.2% in Nov, compared with expectations of +0.4%. Total industrial output also bounced 2.0% from a year earlier, bettering expectations of a 0.6% rise and against the previous -0.9% print.
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