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Portugal welcomes industrial output growth

shipyardIndustrial output in Portugal grew by 0.2% in February, according to Eurostat.

This was the same percentage as the average growth across the eurozone, which was what analysts had expected.

Eurozone growth was driven by a 0.6% increase in intermediate goods, which includes man-made fibres, pesticides, chemical products and animal fodder.

Non-durable consumer goods grew by0.5%. These include items whose shelf life is less than three years, such as cosmetics, cleaning items, food, office supplies, clothing, and medications.

Electronic components manufacturing saw the strongest growth in eurozone intermediate goods output, with an 11.5% increase, Eurostat said.

Energy output dropped 1.7% overall, with a fall of 11% in coal.

There was a 1.2% drop in durable consumer goods.

The growth, albeit modest, was greeted as a sign of economic recovery.

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