Euro zone industrial output rebounds with capital goods boost

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Euro zone industrial output rebounds with capital goods boost
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Euro zone industrial production rose in August by more than expected, official e...

FILE PHOTO: A steel worker of Germany's industrial conglomerate ThyssenKrupp AG stands a mid of emitting sparks of raw iron from a blast furnace at Germany's largest steel factory in Duisburg, Germany. Picture taken January, 28, 2019. REUTERS/Wolfgang Rattay/File Photo

The European Union statistics agency Eurostat said industrial output in the 19-country bloc grew in August by 0.4% on the month, above the market consensus of a 0.3% rise.The reading could reduce concerns about a slowdown of the euro zone economy in the third quarter. A first estimate of gross domestic product will be released by Eurostat on Oct. 31.

The IHS Markit’s Purchasing Managers’ Index , an indicator of economic sentiment, recorded in September the worst reading for Germany since 2009, when the global financial crisis plunged the country’s economy into recession.

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