Eurozone Feb industrial output posts fastest pace in 10 months
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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