Mubasher: The Eurozone’s industrial production shrunk more than expected in February, data by Eurostat showed on Thursday.

Production fell by a monthly rate of 0.8% last month, compared with a slighter decrease of 0.6% in January.

Economists, however, had expected an increase of 1% during February.

On an annual basis, production in the euro area grew by 2.9% last month.

Meanwhile, the European Union’s (EU) industrial output declined by 0.7% month-on-month, but expanded by 3.1% year-on-year.

By 09:33 am GMT, the EUR/USD pair slipped by 0.25% to $1.2336.