Economic news

Euro zone output leaps above forecast in December

Euro area industrial output soared more than anticipated in December, supported by the production of durable consumer goods and intermediate materials, confirming the strongest economic growth pace in 10 years, Eurostat reported.

Industrial production in the 19-nation region increased 0.4 percent month-on-month. Gross domestic product expanded 0.6 percent in the last three months of 2017.

Economy of currency area grew by 2.5 percent in calendar year - the fastest growth pace since a 3.0 percent increase in 2007.

Economists expect euro zone GDP to rise 2.5 percent for the 2018. The International Monetary Fund has predicted global growth will accelerate to the fastest pace in seven years.

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