Eurozone industrial production growth accelerated more than expected in March, largely due to an increase in energy output.
Industrial output advanced 1 percent month-on-month in March, Eurostat reported Tuesday. The rate of growth was bigger than the 0.3 percent rise seen in February and the 0.5 percent growth forecast by economists.
Growth in energy production accelerated to 3.8 percent from 1.9 percent and that in capital goods improved to 1.2 percent from 0.9 percent. Meanwhile, production of intermediate goods and non-durable consumer goods fell 0.1 percent and 0.7 percent, respectively.
Industrial production decreased 1.7 percent on a yearly basis, but much slower than the 3.2 percent fall seen in February and the consensus forecast of 2 percent decline, the statistical office said.
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