UK industrial production in line with expectations in October

Industrial production in Britain grew in line with expectations in October, data released on Tuesday showed.

According to the Office for National Statistics, industrial output climbed 0.1% month-on-month in October compared with stagnant growth in the previous month and in line with analysts’ expectations.

On a year-on-year basis, industrial production rose 1.7% compared with an upwardly revised 1.5% hike in September and with consensus expectations for a 1.2% gain.

However, in the three months October, industrial production was 8.9% lower than its pre-crisis peak in 2008.