U.K. Industrial Output Increases as Manufacturing Rebounds

Bloomberg, (6/8) -- U.K. industrial production rebounded more than economists forecast in June as manufacturing surged the most in a year, adding to signs of a strengthening recovery. Industrial output increased 1.1 percent from May after stagnating for three months, the Office for National Statistics said today in London.  Economists forecast a 0.7 percent increase, according to the median of 33 estimates in a Bloomberg News survey. Factory output jumped 1.9 percent, also exceeding economists’ forecasts. After expanding 0.6 percent in the second quarter, the U.K. economy is showing signs of gaining traction, with manufacturing and construction and services all strengthening in July and house-prices rising. Bank of England Governor Mark Carney will tomorrow present the central bank’s new economic forecasts as well as officials’ assessment of using forward guidance. The pound rose 0.1 percent to $1.5373 against the dollar as of 10:45 a.m. in London. It was little changed versus the euro, at 86.40 pence.