Euro Area’s Feb industrial output rebounds as expected

Industrial production in the Euro Area was reported to have rebounded 0.8% in February compared to January, in line with market consensus.

That followed a revised up 3% drop in January.

In February, output increased for capital goods, by 1.2%, durable consumer goods, by 1.4%, and for intermediate goods, by 0.5%.

On the other hand, energy production in the bloc decreased 3% and that of non-durable consumer goods, by 0.9%.

In annual terms, industrial output shrank 6.4% in February, following a 6.6% contraction in January.

The Euro was last 0.16% firmer on the day against the US Dollar, with the EUR/USD currency pair trading at 1.0655. The major Forex pair was attempting a rebound from last Friday’s 23-week low of 1.0622.