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Euro zone industrial output stronger than expected in Feb

FILE PHOTO: Industrial machines are seen in front of the Belchatow Power Station, Europe’s largest coal-fired power plant powered by lignite, in Rogowiec, Poland October 20, 2022. REUTERS/Kuba Stezycki

BRUSSELS (Reuters) – Euro zone industrial output was stronger than expected in February, data showed on Thursday, mainly thanks to a rise in production of capital and non-durable consumer goods.

The European Union’s statistics office Eurostat said industrial production in the 20 countries sharing the euro rose 1.5% month-on-month in February for a 2.0% year-on-year increase.

Economists polled by Reuters had expected a 1.0% monthly rise and a 1.5% year-on-year gain.

Eurostat said the output of capital goods — goods such as buildings and equipment used to make products and provide services — jumped 2.2% on the month after a 0.1% increase in January for a 10.4% year-on-year surge.

Energy output also rose 1.1% on the month after a 0.2% fall in January and the production of non-durable consumer goods increased by 1.9% on the month after a 2.1% slump in January.



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