Industrial production in the euro area unexpectedly increased in February, helped by a marked increase in energy production, data released by statistical office Eurostat showed Thursday.
Industrial production moved up 0.5 percent on a monthly basis in February, after remaining flat in the previous month. Economists were looking for a 0.2 percent decrease. Production in the 27-member European Union edged up 0.2 percent month-on-month during the month.
Energy production climbed 7.7 percent sequentially in February, while capital goods production moved up 0.7 percent. Meanwhile, production of durable consumer goods and non-durable consumer goods decreased 2 percent and 1.6 percent respectively during the month. There was a 1.4 percent monthly fall in intermediate goods production.
On an annual basis, industrial output dropped 1.8 percent in February, in line with economists' expectations. In January, production decreased 1.7 percent year-on-year.
by RTT Staff Writer
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