Industrial machines are seen in front of the Belchatow Power Station, Europe’s largest coal-fired power plant powered by lignite, in Rogowiec, Poland Oct 20, 2022. REUTERS/Kuba Stezycki/File photo
BRUSSELS – 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 percent month-on-month in February for a 2- percent year-on-year increase.
Economists polled by Reuters had expected a 1- percent monthly rise and a 1.5- percent 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 percent on the month after a 0.1 percent increase in January for a 10.4- percent year-on-year surge.
Energy output also rose 1.1 percent on the month after a 0.2 -percent fall in January and the production of non-durable consumer goods increased by 1.9 percent on the month after a 2.1- percent slump in January.
READ MORE:
Euro zone recovery gathered pace in March on demand for services -PMI
About 40% of German companies expect output decline in 2023 – IW institute
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