Eurozone industrial production down by 0.2% in January

Industrial production fell by 0.2% in the euro area in January, while it rose by 0.1% in the EU28, the latest report from Eurostat showed.

However, the report also highlighted that industrial production decreased by 0.4% in both zones in December 2013.

The largest decreases were registered in Latvia (-10.7%), the Netherlands (-6.4%), Finland (-3.5%) and Lithuania (-2.8%), and the highest increases in Croatia (+5.4%), Estonia (+4.3%) and Hungary (+3.1%).

However, a positive sign came from Greece, where industrial output rose for the second month in a row.

The country’s production was up 1.1% year-on-year, led by chemicals, electronic equipment and computers, after a 0.5% increase in December.

Eurostat attributed the overall decrease in the euro area to production of energy falling by 2.5% and durable consumer goods by 0.6%.

On the other hand, the increase of 0.1% in the EU28 was linked to production of capital goods rising by 1.3%, durable consumer goods by 0.8% and intermediate goods by 0.4%, while non-durable consumer goods fell by 0.4% and energy by 1.7%, the report also showed.

 

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