FX.co ★ Eurozone Industrial Output Unexpectedly Rises

Eurozone industrial production unexpectedly expanded in March, driven by a surge in capital goods output. Data released by Eurostat on Wednesday revealed a monthly growth of 0.6 percent, defying expectations of a 0.3 percent decline. This follows a 1.0 percent increase in February.

All sub-sectors of production registered declines except for capital goods. Notably, the production of non-durable consumer goods decreased by 2.7 percent, and durable consumer goods fell by 1.1 percent. Intermediate goods output dropped by 0.5 percent, while energy output declined by 0.9 percent. In contrast, capital goods production advanced by 1.0 percent.

Annually, the fall in industrial production slowed to 1.0 percent from 6.3 percent in February, which was less severe than economists' forecast of a 1.2 percent drop.