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Portuguese growth shines in eurozone

Industrial output in the eurozone dropped slightly (-0.2%) in January compared with December.

But compared with a year ago, production was up by 2.1%.

Portugal bucked the trend by showing modest growth of 0.1% compared to December and a health increase of 4.6% compared to January 2012.

Economists expressed disappointment at the -0.2% average decline having predicted growth.

The results underscore the eurozone’s delicate economic recovery.

Germany, Europe's biggest economy, registered a month-on-month rise of 0.4% in January.

But French industries contracted -1.4% on the year, accelerating from a decline of -0.2% in the year to December.

The UK's industrial sector also registered growth of 0.1% over December.

The fastest growing industrial sector is capital goods, as companies invest in new equipment. The energy sector is the only sector that is shrinking on a monthly and annual basis.

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