Eurozone industrial production drops more than expected in December
Eurozone industrial production fell more than expected in December, according to the latest data from Eurostat.
Industrial production in the 19 countries that share the euro was down 1.6% from November, which was a touch steeper than the 1.5% drop expected by economists.
The production of capital goods declined by 3.3%, energy by 1.4%, non-durable consumer goods by 1.2% and intermediate goods by 0.2%, while production of durable consumer goods rose by 2.9%.
On the year, eurozone industrial production was up 2%, a slowdown from the previous month’s 3.2% growth but better than analysts’ expectations for a 1.7% increase.
In the EU-28 group of nations, industrial production was down 1% on the month and up 1.6% on the year.