Industrial production in the eurozone rose by 1.1% month-on-month in February, outperforming expectations, according to data released by Eurostat on Tuesday. Analysts had forecasted a modest 0.1% increase.
The rise was primarily driven by gains in non-durable consumer goods, which surged 2.8%. Intermediate goods also posted a 0.3% increase, while capital goods saw a rise of 0.8%. However, energy output declined by 0.2%, and durable consumer goods fell by 0.3%.
In the broader European Union, industrial production increased by 1% month-on-month in February, with non-durable consumer goods leading the way, rising by 2.7%. However, the production of durable consumer goods in the EU fell by 0.4%.
On an annual basis, industrial output in the eurozone grew by 1.2% in February, while the EU saw a 0.6% increase. The strongest annual growth in the eurozone was in non-durable consumer goods, which rose by 9.7%. Meanwhile, intermediate goods saw a 2.7% year-on-year decline.
In the EU, non-durable consumer goods also recorded the highest annual growth at 8.1%, while both intermediate and durable consumer goods experienced declines of 2.2%. The data underscores a mixed performance across various sectors within the EU and eurozone economies.
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Ukraine and Hungary announced on Friday the mutual expulsion of two diplomats each, following accusations from both sides of espionage activities.
Pope Leo XIV marked his first full day as head of the Roman Catholic Church with a solemn Mass in the Sistine Chapel on Friday, just one day after his historic election as the first American pope.
The swift election of Pope Leo XIV reflects a clear consensus among cardinals for continuity, unity, and a leader capable of bridging divides both within the Church and across the globe.
Danish Prime Minister Mette Frederiksen said “you cannot spy against an ally” following reports that the U.S. has increased intelligence efforts in Greenland, a semi-autonomous Danish territory.
Iran has agreed to hold a fourth round of indirect nuclear talks with the United States on Sunday in Oman.
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