By Marcus Leach

Eurostat, the EU's statistics office, released data on Wednesday that showed an unexpected rise in industrial production for the eurozone.

Data for August reported a surprise 1.2% rise for the seventeen countries that use the euro, welcome good news given the problems that have plagued the eurozone over past months.

The rise means that industrial production has risen by 5.3% on an annual basis.

The news will ease fears that the debt ridden eurozone is heading back into recession.

August's increase follows a rise of 1.1% in July, and despite Germany's output falling by 1% it is still 7.8% higher than this time last year.

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