ISTANBUL

The euro area's industrial production rose by 1.1% month-on-month in February, exceeding forecasts, according to data from the regional statistical bureau Eurostat on Tuesday.

The markets had forecast a modest 0.1% increase.

Industrial production for intermediate goods rose 0.3%, non-durable consumer goods climbed 2.8%, capital goods increased 0.8%, while energy fell 0.2%, and durable consumer goods declined 0.3%.

In the EU, industrial production increased by 1% on a monthly basis in February, with the highest increase in non-durable consumer goods, up 2.7%, while industrial production for durable consumer goods fell 0.4%.

On an annual basis, industrial production in the eurozone and the EU climbed 1.2% and 0.6% respectively, in February.

In the euro area, the highest increase was seen in non-durable consumer goods with a 9.7% annual rise, while intermediate goods decreased by 2.7% in February.

As for the EU, annual industrial production for non-durable consumer goods saw the largest increase at 8.1%, while the highest fall was in intermediate goods and durable consumer goods, both down 2.2%.

The eurozone, or EA20, represents member states that use the bloc’s single currency, the euro, while the EU27 includes all member countries.