Euro zone February industrial output up 0.6%

Euro zone February industrial output up 0.6%

Based on the data released by EU statistics institution Eurostat, industrial output in 15 member states of European Union (EU) remained unchanged in February 2004, after a decline of 0.2% in January and a rise of 0.3% in December 2003. In February 2004, industrial output increased by 0.6% in the Euro zone compared to February 2003 and by 0.1% compared to January 2004. Intermediate goods soared by 2.4% in the Euro zone and by 2% in EU in February when compared with the same period of last year and non-durable consumer goods rose by 0.5% and 0.4% respectively. Durable consumer goods remained unchanged in the Euro zone, but surged by 0.2% in EU. Capital goods decreased by 0.6% in the Euro zone, however increased by 0.3% in EU while energy sector fell by 0.4% and 1.7% respectively. In the aforementioned period, the highest increases were recorded in Sweden with 6.1%, Ireland with 3.3%, Greece with 2.4% and Spain with 1.8% compared to February 2003. Countries which showed drop in industrial output are; Portugal with 4.7%, Netherlands with 3.7% and Finland with 3.1%. In addition, Germany's industrial output increased by 1.6% in February compared to February 2003, but decreased by 1% compared to previous month. Italy's industrial output increased by 0.2% compared to February 2003 and remained unchanged compared to January 2004. Industrial output in France was stable in February compared to February 2003, but indicated an increase of 0.8% compared to January 2004.