Industrial output in Euroland rose

Wednesday, 13 April 2011 05:11

Industrial output in Euroland rose by less than expected in February, manufacturing increased in Germany and resumed growth in other members but fell in bailout strapped Greece and Ireland. In the 17 countries using the Euro production rose by 0.4 % from January the European Union's statistics office Eurostat said on Wednesday.

The figures reflected the fifth consecutive monthly rise for the euro zone, on an annual basis output in February rose 7.3 %, but below the 7.8 % expected. The previous January figures were revised down to 0.2 % month-on-month from a previous 0.3 % rise and to an annual rise of 6.3 % from 6.6 %.

Most economists said the data possibly reflected oil prices which rose over 10 % during the month, but said the recovery remained on track. Production rose in France, Germany, Luxembourg, Slovenia, Spain, Italy, Portugal, Slovenia and Finland, the latter four after falling in January. It fell in Estonia, Ireland, Greece, the Netherlands and Slovakia.

Euro zone production of intermediate, capital and consumer goods increased by less than 1 % from January. Output of energy declined for a second consecutive month, possibly reflecting relatively mild winter weather.