Eurozone gaining momentum as industrial production climbs

 
Chris Papadopoullos
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Industrial production grew at its fastest monthly rates since the Ukraine crisis began
INDUSTRIAL production in the Eurozone grew strongly in February, boosting the outlook for the economy.

Production across the 19 euro users was 1.1 per cent higher than in January, according to figures released yesterday by the European Union’s data office Eurostat.

“Eurozone industrial output growth in February today broke the one per cent month-on-month barrier for the first time in ten months, leaving output growing at 1.6 per cent year-on-year, the fastest annual pace of expansion since a production lull set in following last July’s Ukraine crisis,” said an analyst at Daiwa Capital Markets.

“While there is no doubt that today’s dataset overall points to rising momentum in the region's industrial sector, the aggregate Eurozone figure was flattered by a record 16.3 per cent month-on-month surge in Irish production.”

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