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Eurozone Industrial Output Falls For Third Month

Eurozone industrial production decreased for the third straight month in February, Eurostat reported Thursday.

Industrial output fell 0.8 percent month-on-month in February, following a 0.6 percent drop in January. This was the third consecutive drop and came in contrast to the expected growth of 0.1 percent.

Among components, production of capital goods showed the biggest monthly fall of 3.6 percent, followed by a 2.1 percent decrease in durable consumer goods output.

Output of intermediate goods slid 0.8 percent and that of non-durable consumer goods dropped 0.5 percent. Meanwhile, energy production advanced 6.8 percent.

On a yearly basis, industrial production growth eased to 2.9 percent from 3.7 percent in January. Output was forecast to grow 3.6 percent.

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