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Eurozone gets production boost

Eurozone industrial output rose much more than expected in February, data showed yesterday, highlighting the manufacturing sector’s strong role in economic recovery. Industrial production in the 16-country bloc increased 0.9 per cent from January, the European Union statistics office Eurostat said. Output rose 4.1 per cent year-on-year, the biggest jump since April 2008. Analysts had on average expected production to remain unchanged in February from the previous month and increase 2.7 per cent year-on-year. The figures increased expectations that the eurozone economy has expanded in the first quarter of 2010.