Eurozone industrial production decreased by more than expected in February after a strong January, depressed chiefly by lower output of non-durable goods such as clothes or food, the European Union statistics office said on Wednesday. Industrial production in the 19-member single currency bloc was 0.8 percent lower in February than in January, a slightly greater decline that than the 0.7 percent average forecast in a Reuters poll of economists.
Year-on-year, euro zone industrial production rose by 0.8 percent, below the average market expectation of a 1.2 percent increase. Eurostat also revised down the monthly output figure for January to 1.9 from 2.1 percent, although the year-on-year number went up to 2.9 from 2.8 percent. Euro zone February monthly output decreased mostly because of a sharp fall of production of non-durable goods, which dropped 1.8 percent, after having seen a surge in production of 2.9 percent in January.
Energy output also fell by 1.2 percent in February, production of durable consumer goods, such as fridges, decreased by 0.4 percent and output of capital goods, such a machinery, declined by 0.3 percent. All major economies of the euro zone saw a drop in their monthly output, in Germany by 0.7 percent, France 1.0 percent and Italy by 0.6 percent.