FINANCIAL NEWS

EU industrial output rises 0.8% in April

14 Jun 2010

(MENAFN) A report issued by the European Union?s statistics office in Luxembourg showed that European industrial production increased more than economists forecast in April, led by demand for intermediate goods such as steel and car engines, Reuters reported.

Output in the economy of the 16 nations using the euro rose 0.8 percent from March, the report said. From a year earlier, April production jumped 9.5 percent, the biggest gain since the data started in 1991.

Production of intermediate goods rose 2.2 percent in April from March, when it gained 1.1 percent, report showed. Output of capital goods such as factory machinery increased 1.1 percent in April, while energy production fell 0.9 percent in the month.

The 16-nation currency has fallen 15 percent against the dollar this year on concern governments? measures to tackle swollen budget deficits may hamper economic growth in the region.

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