Industrial production continues to remain below expectations in the U.K., hurt by weakness in the oil and gas extraction sector.

Total production rose 0.4 percent in October from the previous month, but was below the 0.6 percent rise expected by economists polled by Reuters.

Compared to the same period last year, production rose 3.3 percent in the month.

Oil and gas extraction dropped 8.8 percent in November, while output dropped 0.7 percent. Mining and quarrying output also dropped by 0.6 percent.

However, the manufacturing sector witnessed good growth during the month, boosted by machinery and equipment industries, as well food and tobacco products industries.

Total manufacturing output rose 0.6 percent sequentially, and 5.6 percent from last year.

Machinery and equipment industries saw a massive spike of 20 percent, which was partially offset by a fall of 2.8 percent in the chemicals and man-made fibre industries.

The Bank of England is expected to announce the interest rate decision later today. Policy members have kept the interest rates steady for over a year, as the country is plagued with high inflation and low economic growth.

Most economists expect the interest rates and the asset purchase program to be left untouched yet again, as inflation hovers above the 2 percent threshold set by the bank.

Food prices were one of the main reasons for the rise in inflation in November, mainly due to high poultry prices that were expected to continue rising.

Bank of england United kingdom Inflation Manufacturing