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.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- July PVC dealt lower in Europe, what lies ahead for August?
- China’s Jan-May total polymer imports hit a record of nearly two decades
- India’s local PVC market soars to 6-month high after customs hike
- China’s export PET market faces correction after rising 10% from two-year-low
- Spot propylene moves in opposite directions in Asia and Europe
- European PS hits year-to-date low on July drops
- Turkey’s PP market on par with China, LLDPE and HDPE trade at discount
- Bearish trend persists in July for PP, PE in Mid-East, Africa
- Vietnam’s PE market sees first hike attempts after two months
- PET prices in Turkey and Egypt recover from two-year lows