European markets were higher on Friday morning as investors parse through U.K. economic data and reflect on a somewhat murky U.S. inflation outlook.

The pan-European Stoxx 600 was up more than 1% at 9:10 a.m. in London, with all sectors and major bourses in positive territory.

Mining stocks led the gains, up more than 2%, while tech stocks rose 1.5%.

The market moves come after the benchmark Stoxx 600 index closed lower in the previous session.

On the data front, Britain’s economic output increased by 0.1% in monthly terms in February, in line with expectations, according to figures published Friday by the Office for National Statistics. It provided another sign of a return to sluggish economic growth this year.

The European Central Bank on Thursday held interest rates steady for a fifth consecutive meeting and gave its clearest signal yet of an upcoming rate cut despite uncertainty over the U.S. Federal Reserve’s next moves.

Stateside, investors digested fresh inflation data in search of clues on exactly when the U.S. central bank may start cutting interest rates.

The producer price index, which tracks prices on a wholesale level, came in lower than expected in March, according to a release Thursday from the Labor Department’s Bureau of Labor Statistics. The PPI reading rose 0.2% for the month, less than the 0.3% estimate from the Dow Jones consensus and not as much as the 0.6% increase in February.

It provided some potential relief for investors hoping for the start of Fed policy easing, although the data came just one day after a hotter-than-expected March consumer inflation report, which fueled fears that the Fed will keep interest rates elevated.

— CNBC’s Jeff Cox contributed to this report.