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Euro Zone March Industrial Output Falls by Less Than Expected |
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European Economy |
Written by CEP News |
May 14 08 10:18 GMT |
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(CEP News) Frankfurt - On Wednesday, Eurostat announced that industrial output in the euro zone fell 0.2% on a monthly basis in March. While this decrease is less than the 0.3% decline expected, it is noticeably lower than the 0.3% increase seen in February.
Annually, industrial output grew 2.0%, down from both the 2.3% growth rate expected and the 3.2% increase recorded in the previous month. February's rise was revised up from an initial reading of 3.1%. According to the press release, the production of intermediate goods and non-durable consumer goods declined 0.2% and 0.5% month-over-month respectively. Meanwhile, capital goods fell 1.1% in March. Year-over-year, energy production rose 5.8% in March, while the production of capital goods and intermediate goods increased 4.1% and 1.1% respectively. However, non-durable and durable consumer goods both fell on a yearly basis by 0.9% and 3.2%, in that order. By Todd Wailoo,
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