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Eurozone industrial output bounces back in August

14 October 2008, 13:30 CET

(BRUSSELS) - Factories and refineries in the 15 nations that use the euro ratcheted up production in August despite growing economic problems, according to official EU data on Tuesday.

Industrial output in the eurozone rose 1.1 percent in August from July but was down 0.7 percent over the same month in 2007, the European Union's Eurostat data agency said.

The figures, adjusted for seasonal variations, met economists expectations for output to rise 1.1 percent over one month and beat forecasts for a fall of 1.6 percent over one year, as polled by Dow Jones Newswires.

They marked an improvement after industrial output eased 0.2 percent July over one month and fell 1.2 percent over one year, according to revised figures.

The better August showing was driven by higher output of partly finished goods and goods used to make other products.

Meanwhile, industrial output in the 27-nation EU rose 0.5 percent over one month in August but fell 1.1 percent over one year.

Further information - Eurostat

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