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Eurozone Production Climbs 2.1%
Industrial production across the 19-member eurozone grew 2.1% from December to January, reversing two previous months of decline, Eurostat reports.
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Industrial production across the 19-member eurozone grew 2.1% from December to January, reversing two previous months of decline, Eurostat reports.
January’s seasonally adjusted increase was the strongest month-on-month gain since September 2009. Compared with January 2015, industrial output grew 2.8%.
Eurostat says the month-to-month increase was driven by a 3.3% gain in production of capital goods and a 2% rise in energy. Year-on-year growth was led by non-durable consumer goods (+7.3%), capital goods (+4.6%) and durable consumer goods (+3.2%).
Economists, who had expected 1.7% from December to January, doubt the region can sustain 2%+ growth. They caution that a decline is likely when February numbers are reported next month.
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