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Better euro zone industry figures

Factories and refineries in the euro zone increased production faster than expected in January, according to official EU data.

Industrial output in January grew by 0.9% from December, giving an annual increase of 3.8%, the Eurostat agency said.

The figures, adjusted to take account of seasonal variations, beat economists expectations for an increase of only 0.3% in the month.

They also marked an acceleration from December when the output  stalled over one month and grew 1.7% over the year.

The January improvement was driven by stronger production of  capital goods, which are used to make other goods and include such things as machinery and tools.