Investing.com - Industrial production in the euro zone rose for the second consecutive month in March, easing concerns over the outlook for economic growth in the single currency bloc, official data showed on Tuesday.
In a report, Eurostat, the European statistics agency said industrial production rose by a seasonally adjusted 1% in March, above expectations for a 0.4% increase.
Industrial production in February was revised down to a 0.3% gain from a previously reported increase of 0.4%.
Year-on-year, industrial production fell at an annualized rate of 1.7% in March, after dropping at a rate of 3.2% in the preceding month. Analysts had expected industrial production to decline at an annualized rate of 2%.
Following the release of that data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.15% to trade at 1.2995.
Meanwhile, European stock markets held on to losses following the data. The EURO STOXX 50 fell 0.5%, France’s CAC 40 declined 0.5%, Germany's DAX slumped 0.5%, while London’s FTSE 100 dipped 0.2%.
In a report, Eurostat, the European statistics agency said industrial production rose by a seasonally adjusted 1% in March, above expectations for a 0.4% increase.
Industrial production in February was revised down to a 0.3% gain from a previously reported increase of 0.4%.
Year-on-year, industrial production fell at an annualized rate of 1.7% in March, after dropping at a rate of 3.2% in the preceding month. Analysts had expected industrial production to decline at an annualized rate of 2%.
Following the release of that data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.15% to trade at 1.2995.
Meanwhile, European stock markets held on to losses following the data. The EURO STOXX 50 fell 0.5%, France’s CAC 40 declined 0.5%, Germany's DAX slumped 0.5%, while London’s FTSE 100 dipped 0.2%.