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Gains Outside Eurozone Bolster Europe’s Industrial Growth
Industrial output within the eurozone slipped 0.2% from December to January on a seasonally adjusted basis, Eurostat reports.
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Industrial output within the eurozone slipped 0.2% from December to January on a seasonally adjusted basis, Eurostat reports. But gains in the rest of the 28-member EU pushed overall output for the region up 0.1%.
Growth in the EU28 was driven by increases in the production of capital goods and durable consumer goods of 1.3% and 0.8%, respectively, according to the EU statistical service. The agency notes that year-on-year output for January advanced 2.4% for the EU28 and 2.1% within the eurozone.
Growth in production from December to January for Europe's largest markets was led by Italy (+1%), Germany (+0.4%) and Spain (+0.2%). The U.K. posted growth of 0.1%, and France's output fell 0.3%.
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