Industrial production in the euro area increased 1.5% on a monthly basis in February, the EU’s statistical office revealed on Thursday. The figure followed an upwardly revised hike of 1% in January and was better than market estimates. The production of capital goods spiked 2.2%, non-durable consumer goods 1.9%, intermediate goods and energy both 1.1%, and durable consumer goods 0.2%, according to Eurostat. In the EU, industrial production grew 1.4% month-on-month after January’s 0.4% rise. Among member states with available data, the largest monthly increases were in Belgium with 6.5%, Luxembourg 4.9%, and Greece 4.8%. On the flip side, the largest declines were seen in Slovenia (-3.6%), Finland (-2.3%) and Portugal (-2.0%). On an annual basis, industrial output surged 2% in the euro area and 2.1% in the EU. The eurozone/euro area, or EA19, represents member states that use the single currency – the euro, while the EU27 includes all member countries of the bloc.