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The Office for National Statistics (ONS) released its manufacturing industrial production figures for the U.K. on Tuesday. Manufacturing production in the U.K. rose 0.4% in March, exceeding expectations for a 0.3% gain, after a 0.5% increase in February. February's figure was revised up from a 0.4% rise.
Manufacturing output was driven by oil and gas extraction, which jumped 4.9% in March, the biggest rise since February 2014.
On a yearly basis, manufacturing production in the U.K. increased 1.1% in March, after a 1.2% rise in February. It was the largest increase since September 2014. February's figure was revised up from a 1.1% gain.
Industrial production in the U.K. climbed 0.5% in March, beating forecasts of a flat reading, after a 0.1% rise in February.
On a yearly basis, industrial production in the U.K. gained 0.7% in March, exceeding expectations for a 0.2% rise, after a 0.1% increase in February.
For the first quarter as a whole, industrial output was up 0.1%, driven by a 2.7% gain in the utilities sector, while manufacturing output rose 0.1%.
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