Official figures show that British industrial output rose more quickly than expected in May, taking its annual rate of growth to its highest in almost 10 years despite heavy downward revisions to April's figures.
The Office for National Statistics said industrial output rose by 0.7% in May, almost twice as fast as analysts had expected. That took the annual rate to 2.6%, its highest since June 2000.
But the increase in the annual rate was smaller than the 3.1% analysts had expected after April's contraction in industrial output was revised to 0.7% from 0.4%.
A narrower measure of manufacturing output - which excludes mining and utilities - rose by 0.3% on the month, in line with forecasts.
Separate figures showed that British house prices dropped for a third month in a row in June after rising at the start of 2010.
Mortgage lender Halifax said house prices fell by 0.6% in June following a similar decline in May. 'This pattern is in line with our view that house prices will be broadly unchanged over 2010 as a whole,' said Halifax economist Martin Ellis.
