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Eurozone Jan industrial output rises 2.1%, beats forecasts

by ChemOrbis Editorial Team - content@chemorbis.com
  • 14/03/2016 (17:48)
According to data from Eurostat, industrial production in the eurozone beat economists’ expectations in January, posting its largest monthly increase since September 2009. The region’s industrial output rose 2.1% in January from a month earlier. Economists had expected to see a gain of 1.6% in a survey by the Wall Street Journal. The higher than expected increase was driven by stronger output in Germany, where industrial output gained 2.9%.

On a yearly basis, meanwhile, industrial production in the eurozone rose by 2.8% from the same month of 2015, which represents the strongest yearly gain seen since August 2011. The agency also revised the December’s decline to 0.5% from an initially estimated rate of 1%.

The data showed that energy and non-durable goods production rose 2.4% while production of capital goods climbed 3.9 % from a month earlier. Durable goods production was also up by 1.3% and production of intermediate goods increased 0.9% on the month in January.

Across the region, the largest increases in industrial production on a monthly basis were reported in Ireland (+12.7%), Estonia (+4.9%), Croatia (+3.2%) and Germany (+2.9%) while the largest declines were seen in Malta (-5.0%), Romania (-2.3%) and Finland (-2.1%) in January.
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