According to the report from the Eurostat, in February, eurozone industrial production increased by 1.1%, accelerating compared to January (+0.6%, revised from +0.8%). This was the strongest growth since August 2024. Economists had expected an increase of 0.3%.
In annual terms, industrial production increased by 1.2% after declining by 0.5% in January (revised from 0%). This marked the first annual growth in 22 months. Consensus estimates suggested a drop of 0.8%. Meanwhile, among the countries of the European Union, industrial production rose by 1.0% on a monthly basis and by 0.6% per year.
Eurostat reported that compared with January, industrial production in the eurozone increased for intermediate goods (+0.3%), capital goods (+0.8%) and for non-durable consumer goods (+2.8%). However, industrial production decreased by 0.2% for energy and by 0.3% for durable consumer goods.
Meanwhile, the growth of industrial production in the eurozone compared to February 2024 was caused by non-durable consumer goods.(+9.7%) and energy (+1.4%). A decrease in industrial production was recorded for capital goods (-1.8%), durable consumer goods (-2.3%) and for intermediate goods (-2.7%).
Among Member States for which data are available, the highest annual increases were recorded in Ireland (+38.8%), Lithuania (+9.1%) and Luxembourg (+6.6%). The largest decreases were observed in Hungary (-8.0%), Bulgaria (-4.7%) and Germany (-3.7%).