UK industrial production in line with expectations in October

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.