Eurozone’s Industrial Output Surpasses Forecasts in February

(MENAFN) In February, industrial output across the eurozone experienced a monthly growth of 1.1 percent, outperforming the anticipated rise of just 0.1 percent, based on statistics released by Eurostat, the region's official data agency, on Tuesday.

Within the euro area, production of intermediate goods registered a slight increase of 0.3 percent, whereas non-durable consumer goods saw a stronger expansion of 2.8 percent.

Capital goods posted a gain of 0.8 percent, in contrast to a 0.2 percent dip in energy output and a 0.3 percent drop in durable consumer goods.

In the broader European Union, industrial activity expanded by 1 percent on a monthly scale during February.

The most notable improvement was in non-durable consumer goods, which surged by 2.7 percent, whereas durable consumer goods recorded a 0.4 percent decline.

Comparing data on a yearly basis, the eurozone and the EU witnessed increases in industrial output of 1.2 percent and 0.6 percent, respectively. In the eurozone, non-durable consumer goods led the gains with a 9.7 percent annual rise, while intermediate goods faced a 2.7 percent decrease.

For the EU, the most significant yearly rise was in non-durable consumer goods, up 8.1 percent, whereas intermediate goods and durable consumer goods both saw the sharpest declines, each down 2.2 percent.

It’s important to note that the eurozone (EA20) comprises the countries that have adopted the common currency, the euro, whereas the EU27 encompasses all the member states within the European Union.

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