Euro zone industrial output up 0.2 percent in February

Nathan Andrada – Fourth Estate Cooperative Contributor

Brussels, Belgium (4E) – Industrial output in the euro area expanded by 0.2 percent in February, matching analysts’ forecast.

Growth was boosted by a 0.6 percent rise in intermediate goods and a 0.5 percent gain in non-durable consumer goods.

Electronic components manufacturing posted the strongest growth in the intermediate goods output in the euro zone, which climbed 11.5 percent, according to Eurostat. Energy output fell by 1.7 percent overall, after mining in coal and lignite declined 11 percent.

Durable consumer goods saw a 1.2 percent drop.

Intermediate goods, which include pesticides, animal feeds, pesticides and man-made fibres, helped in the growth of industrial output in the 18-nation common currency bloc.

Lower energy industry production, which include a monthly fall of 8.4 percent in petrol and natural gas extraction, did not impact overall industrial growth.

The 0.2 percent fall in production in January was revised down to zero percent growth after taking into account new figures, according to Eurostat.

Euro zone recorded a revised 1.6 percent growth from the year-earlier period.

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