Eurozone industrial production dropped 2.3% month-on-month in February after falling a revised 2.4% in January, the Eurostat said Thursday. Economists had expected a 2.5% fall for February, while the statistical office revised January's decline from 3.5% reported initially.
On an annual basis, output fell at a faster pace of 18.4% in February, compared with the revised decline of 16% in January. The fall in February was slightly quicker than the expected 18% drop. Meanwhile, January's decline was revised from a 17.3% fall.
In the EU27, production dropped 1.9% month-on-month in February and 17.5% from the previous year.
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