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Eurozone Feb industrial output posts fastest pace in 10 months

by ChemOrbis Editorial Team -
  • 14/04/2015 (14:30)
According to data released by Eurostat, industrial output in the eurozone posted the strongest monthly increase in ten months in February. The region’s industrial production rose 1.1% on the month to beat the economists’ initial estimates, which called for a 0.4% increase in a survey by Reuters.

On a yearly basis, factory output in the eurozone rose 1.6% compared with initial estimates which called for an increase of 0.7%. The increase was attributed to energy production rising by 6.9%, non-durable consumer goods gaining 1.8%, durable goods rising 0.5% and capital goods improving by 1.4% compared with the same period of the last year. However, production in intermediate goods fell 0.2% on the year in February.

The data also showed that across the region, the largest increases in industrial production on a yearly basis were reported in Ireland (+30.3%), the Netherlands (+6.6%), Hungary (+5.9%) and Slovenia (+5.8) while the largest decreases were seen in Finland (-5.2%), Sweden (-3.7%) and Denmark (-2.5%).

Meanwhile, the European Commission expects the eurozone economy to grow by 0.5% on the quarter in the first three months of this year after posting a gain of 0.3% in the last quarter of 2014.
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