Mubasher: The UK’s industrial output expanded more than expected in January, while manufacturing production posted the longest growth streak of all time.

Total industrial production rose by a monthly rate of 1.3% during the first month of 2018, versus a decline of 1.3% in December, data by the Office for National Statistics (ONS) on Friday showed.

Economists had expected a sharper growth of 1.5% in January.

January’s gain was driven by a sharp increase of 23.5% in mining and quarrying sectors due to resuming operations of the Forties oil pipeline.

Meanwhile, manufacturing production grew for the ninth straight month by 0.1% in January, hitting a new record growth streak.

Over the three months ended January, total industrial production rose 0.2% compared with the previous three months, and 1.4% compared with the same period of the previous year.

By 09:55 am GMT, the GBP/USD pair inched down by 0.03% to $1.3807.