The industrial output in the Eurozone has risen despite earlier predictions, mainly due to France's unexpected rebound, giving investors a glimpse of hope to a lomg-awaited revival of the currency bloc's economy from recession.
The Euro-area, comprised of 17 nations in the region, increased factory production by 0.4 percent since March this year, after posting a 0.9 percent increase said the European Union's statistic office. The Luxembourg-based agency also said that production fell 0.6 percent since April of 12.
Germany expanded 1.2 percent while France bounced back with a 2.3 percent increase.
A recent survey of 36 economists predicted stagnation in the economy. The survey was initiated by Bloomberg News. Furthermore, a separate study made by Bloomberg News showed that the gross domestic product of the special economic zone is expected to rise in the second quarter.
The euro weakened against the U.S. dollar prior to today's close. It traded at $1.3288 at 10:49, Brussels time.
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