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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A mob attack on an Ahmadi place of worship in Karachi has left one man dead, highlighting ongoing persecution of the minority group.
A Russian court has sentenced 19-year-old Darya Kozyreva to nearly three years in prison for protesting the war in Ukraine using poetry and graffiti.
The new U.S. ambassador to Japan has called for closer military coordination with Tokyo, framing the alliance as crucial amid rising regional tensions and ongoing trade disputes.
Students in Serbia have rallied outside a police station as Belgrade University’s rector is questioned over support for anti-government protests.
OpenAI has unveiled a new option called Flex processing, an API service designed to provide more affordable AI model usage in exchange for slower response times and occasional resource unavailability.
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