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Euro zone Feb production rebounds as expected on consumer goods -Breaking

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© Reuters. FILEPHOTO: An employee assembles an Audi new at Ingolstadt’s production line, Germany. March 14, 2018. REUTERS/Michael Dalder

BRUSSELS, (Reuters) – The Euro zone’s industrial production rose as anticipated in February after a January slump. This was due to a stronger output of consumer products, which compensated for a decline in energy output, data from Wednesday showed.

Eurostat, an office of the European Union statistics said that the industrial output of the 19 euro-member countries increased 0.7% per month. It was a 2.0% year-on–year increase. The rebound from the 0.7% decline in January.

Reuters polled economists and found that they had predicted a 0.7% increase in monthly inflation for February, as well as a 1.5% annual growth.

This data is primarily from the period before the Russian invasion in Ukraine on February 24, which severely disrupted business sentiments during March.

Eurostat stated that energy production in February fell in month-on-month for the third straight month. However, it has continued to increase from one year ago.

In February, the production of capital goods which are used to invest also fell.

These declines were also offset by solid gains in both durable and nondurable consumer goods production, which rose by 8.9% and 5.8%, respectively, year over year.

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