Forex News

The index of industrial production in the euro area unexpectedly rose in February by 0.6%, reflecting growth on all industries, Eurostat, the Statistical Office of the European Communities reported today. The analysts expected that the index would increase by 0.2%.

It is important to note that the index of industrial production, one of major macroeconomic indicators, considerably influences upon the market and its increase contributes to national currency rise. Production of energy rose by 0.8%. Capital goods grew by 0.8%, intermediate goods by 0.5% and durable consumer goods by 0.4%.

At the annual rate the index of industrial production was in January 4.1%, compared with estimated 4.0% and preceding 3.7%. In January industrial production in the euro area declined by 0.5% (0.2% was reported earlier).