Eurozone industrial production accelerates in February

(Sharecast News) - Industrial production in the euro area rose by 1.1% in February compared with the prior month, according to fresh data from Eurostat on Tuesday. The broader European Union also recorded a 1% monthly gain, marking an acceleration from January's more modest increases of 0.6% and 0.1%, respectively.

On a year-on-year basis, industrial output was up 1.2% in the euro area and 0.6% in the EU, with non-durable consumer goods providing a notable boost.

In the eurozone, output of those goods surged 2.8% from January and 9.7% from a year earlier, offsetting declines in several other categories.

Capital goods production rose 0.8% month-on-month but remained 1.8% below February 2024 levels, while energy production slipped slightly on the month but edged up year-on-year.

Among member states, Ireland posted the strongest monthly performance with a 10.8% increase, followed by Belgium and Luxembourg.

In contrast, Croatia, Greece and Romania registered the largest monthly declines.

Over the year, Ireland also led gains with a 38.8% surge, while Hungary recorded the steepest drop at 8.0%.

Despite the overall positive momentum, several segments of industrial output remained below last year's levels, particularly intermediate goods and durable consumer goods.

Reporting by Josh White for Sharecast.com.