Investing.com - Industrial production in the euro zone rose more than expected in February, easing concerns over the outlook for economic growth in the single currency bloc, official data showed on Tuesday.
In a report, Eurostat, the European statistics agency said industrial production increased by a seasonally adjusted 1.1% in February, easily surpassing forecasts for a gain of 0.4% and after a decline of 0.3% in January.
Year-on-year, industrial production rose at a rate of 1.6% in February from a year earlier, compared to expectations for a 0.7% increase and after rising 0.4% in the preceding month.
EUR/USD was trading at 1.0557 from around 1.0550 ahead of the release of the data, while EUR/GBP was at 0.7222 from 0.7219 earlier.
Meanwhile, European stock markets remained mostly lower. The EURO STOXX 50 shed 0.8%, France’s CAC 40 lost 0.5%, Germany's DAX slipped 0.6%, while London’s FTSE 100 tacked on 0.1%.