Stocks

Euro zone industry output falls by less than expected in mild Feb

Reuters

BRUSSELS, April 12 () - Euro zone industrial output declined in February but by less than expected, as mild weather meant that a surge in energy production at the start of 2019 reversed.

The European Union's statistics office Eurostat said on Friday that production in the 19 countries sharing the euro fell by 0.2 percent in February and by 0.3 percent year-on-year.

Economists polled by had expected a 0.6 percent monthly decrease and a 1.0 percent annual drop.

Energy output, the main driver of January's increase, showed the sharpest decrease in February, when temperatures were above season averages. Indeed all components of industrial production declined month-on-month except for output of non-durable consumer goods.

That component, which includes food and clothing, rose by 0.9 percent in February after a 2.1 percent increase in January.

Production fell in Germany by 0.4 percent, the second consecutive monthly decline, but rose in France and Italy, the second and third biggest economies in the euro zone, by respectively 0.4 and 0.8 percent. Output in both had risen in January.

For Eurostat release, click on:


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More