Euro zone February industry output edges up

Euro zone industrial production was slightly ahead of expectations in February as data showed this morning it inched up 0

Euro zone industrial production was slightly ahead of expectations in February as data showed this morning it inched up 0.1 per cent from the previous month and rose a stronger 0.6 per cent from a year earlier.

Economists had expected output to stagnate on a monthly basis and to climb 0.5 per cent from a year earlier.

The figures, released in a statement by European Union statistics office Eurostat, showed January data were revised to show a fall of 0.3 per cent from the previous month and a rise of 0.7 per cent from a year earlier.

Eurostat had previously estimated the respective changes as a fall of 0.4 per cent and an increase of 0.6 per cent.

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The European Commission is looking for the euro zone economy to expand by 1.8 per cent this year as a recovery takes hold. It expects this to accelerate to 2.3 per cent in 2005.