U.K. Manufacturing Revives as Euro Factories Struggle: Economy

U.K. manufacturing unexpectedly expanded at the fastest pace in 15 months in December as domestic demand improved, indicating some strength in the economy at the end of 2012.

A gauge of factory activity rose to 51.4 from a revised 49.2 in November, Markit Economics and the Chartered Institute of Purchasing and Supply said in London today. The median forecast of 29 economists in a Bloomberg News survey was for a reading of 49.1, unchanged from November’s initially reported level. The pound stayed higher against the dollar after gaining to its strongest level in 16 months.