Brussels, Belgium (4E) – Industrial production in the euro area fell unexpectedly in January primarily because of lower energy output, according to official data released Wednesday.
Industrial output declined 0.2 percent in January from the previous month, falling for the second consecutive month, according to Eurostat. Economists predicted an increase in production by 0.5 percent after declining a revised 0.4 percent in December.
Energy output fell 2.5 percent and durable consumer goods declined 0.6 percent. Production of intermediate goods was down 0.1 percent. These declines were partially offset by a 0.9 percent increase in capital goods and 0.4 percent gain in non-durable consumer goods.
Industrial production growth accelerated to 2.1 percent in December from 1.2 percent in the previous year. Economists had predicted output to gain 1.9 percent.