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U.K. Factory Production Unexpectedly Jumped in June by 0.4% - Just British
U.K. manufacturing unexpectedly jumped in June by the most in 1 1/2 years as factories raised production of cars and computers, evidence the recession is easing. Output rose 0.4 percent from the previous month, the Office for National Statistics said today in London. Economists predicted a 0.1 percent drop, according to the median of 25 forecasts in a Bloomberg News survey. Factory production is down 11.7 percent from a year ago. The Bank of England will decide tomorrow whether to expand its 125 billion-pound ($212 billion) money-printing program as policy makers assess if the economy has received enough stimulus to entrench a recovery. Reports today showed consumer confidence rose and house prices rebounded in July, and a factory survey released this week showed growth for the first time in a year. “Things are probably stabilizing, though manufacturers are still in [...]