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Financial News: Eurozone Industrial Output Growth Tops Expectations

Eurozone Industrial Output Growth Tops Expectations

07/12/2017 - 05:22:00 (RTTNews)

(RTTNews) - Eurozone industrial production growth improved more than expected in May, data from Eurostat showed Wednesday.

Industrial output grew 1.3 percent on a monthly basis, faster than the revised 0.3 percent increase seen in April.

This was the fastest growth since November 2016, when output grew 1.6 percent. Output was forecast to gain 1 percent in May.

Production of capital goods and durable consumer goods grew 2.3 percent and 1.8 percent, respectively. Non-durable consumer goods output rose 1.2 percent.

At the same time, output of intermediate goods climbed 0.3 percent and energy by 0.9 percent.

On a yearly basis, industrial production growth accelerated to 4 percent in May from 1.2 percent in April. Economists had forecast 3.5 percent increase in production.

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