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Financial News: Eurozone Industrial Production Grows In February

Eurozone Industrial Production Grows In February

04/20/2022 - 07:52:00 (RTTNews)

(RTTNews) - Eurozone industrial production rose more than expected in February after falling in the previous month, data from Eurostat showed on Wednesday.

Industrial output rose 0.7 percent month-on-month in February, reversing a 0.7 percent decrease in January, which was revised from a no change reading. Economists had forecast a monthly growth of 0.2 percent.

In December, output rose 1.5 percent.

Production of durable consumer goods output grew 2.7 percent and that of non-durable goods rose 1.9 percent. Intermediate goods output increased 0.9 percent.

Meanwhile, capital goods output and energy output declined by 0.1 percent and 1.1 percent, respectively.

On a yearly basis, industrial production rose 2.0 percent in February, after a 1.5 percent decline in the prior month. Economists had forecast output to grow 0.8 percent.

Industrial production in the EU27 gained 0.6 percent monthly and grew 3.0 percent from a year ago in February.

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