UK industrial production beats forecasts

Although monthly growth slowed from the previous 0.8% increase, annual industrial output climbed 3.1%, surpassing the 2.8% forecast and accelerating from 1.6%.

Manufacturing production increased 0.7% month over month, defying expectations for a 0.5% contraction. On an annual basis, manufacturing output grew 4.4%, above the 3.8% forecast and the previous 3.0% reading. The figures pointed to stronger annual industrial performance despite slower monthly growth.