Euro industrial output up in Aug, sharply down YOY

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BRUSSELS- Euro zone industrial production rose by more than expected in August, data showed on Friday, as factories made more consumer goods although overall output was down by more than 5 percent  from a year earlier.

The European Union’s statistics office Eurostat said industrial production in the 20 countries sharing the euro rose by 0.6 percent  month-on-month in August for a 5.1 percent  year-on-year decline.

Economists polled by Reuters had expected a 0.1 percent  monthly increase and a 3.5 percent  decline from a year earlier.

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The stronger than expected month-on-month numbers resulted from a 1.2 percent  rebound in production of durable consumer goods, such as televisions or fridges, after a similar-sized decline in July.

Output of non-durable consumer goods, such as food or clothing, rose by 0.5 percent  for a second consecutive month. Capital goods output ticked up by 0.3 percent  after a sharp fall in July. Production of energy and intermediate goods, such as steel or glass, declined.

Compared with a year earlier, all types of production were some 5-7 percent  lower, except for non-durable consumer goods, whose decline was 1.4 percent . -Reuters

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