Euro zone industrial output grew more than expected in February, driven mainly by the production of capital goods and energy, data from the European Union statistics office showed today.
Production in the 15 countries using the euro rose 0.3 per cent month-on-month for an annual gain of 3.1 per cent, Eurostat said. Economists had expected a 0.2 per cent monthly rise and a 2.9 per cent annual gain.
Eurostat revised down its previously released January figures to a monthly rise of 0.6 per cent from 0.9 per cent and an annual gain of 3.3 per cent from 3.8 per cent.
The production of consumer goods, durable and non-durable, was the weakest component, falling 0.4 per cent month-on-month and shrinking year-on-year in the durable sector as well.
Production of capital goods surged 7.1 per cent annually and gained 0.9 per cent on the month while energy output rose 1 per cent month-on-month for a 4 per cent yearly rise.