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Financial News: Eurozone Industrial Production Rebounds In January

Eurozone Industrial Production Rebounds In January

03/12/2020 - 06:15:00 (RTTNews)

(RTTNews) - Eurozone industrial production expanded for the first time in five months in January, data from Eurostat showed Thursday.

Industrial output grew at a faster-than-expected pace of 2.3 percent on a monthly basis and in contrast to a revised 1.8 percent drop in December.

This was the first increase since August. Economists had forecast a moderate increase of 1.4 percent for January after December's initially estimated fall of 2.1 percent.

On a yearly basis, industrial production fell 1.9 percent, slower than the 3.6 percent decline seen in December. Output was forecast to drop 3.1 percent.

Production of intermediate goods advanced the most, by 3.2 percent and capital goods output grew 2.6 percent on month in January. Durable and non-durable consumer goods output gained 0.7 percent and 0.8 percent, respectively. Meanwhile, energy output fell 0.1 percent.

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