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Post by bot on Apr 11, 2014 3:14:40 GMT -5
U.K. industrial production rises above expectations in February
LONDON (MarketWatch) -- Industrial production in the U.K. rose in February, with the Office for National Statistics reporting Tuesday a rise of 0.9% on seasonally adjusted basis compared with January. That increase was well above a consensus estimate of 0.3% growth. A 1% increase in manufacturing was the largest contributor to the headline output figure, marking a third consecutive rise for the sector. Industrial production in February from the year-ago period increased by 2.7%, in part reflecting a 3.8% rise in manufacturing. There was an 8.8% decrease in the output of electricity, gas, steam and air conditioning as the average temperature in February of this year was warmer than February 2013, said ONS.
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