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Euro zone industrial production falls 0.7% in December

Published 02/12/2014, 05:02 AM
Updated 02/12/2014, 05:02 AM
Euro zone industrial production falls more-than-expected in December

Euro zone industrial production falls more-than-expected in December

Investing.com - Industrial production in the euro zone fell more-than-expected in December, fuelling concerns over the outlook for economic growth in the single currency bloc, official data showed on Wednesday.

In a report, Eurostat, the European statistics agency said industrial production declined by a seasonally adjusted 0.7% in December, compared to expectations for a 0.3% drop. Industrial production in November was revised to a 1.6% gain, from a previously reported increase of 1.8%.

Year-on-year, industrial production increased at an annualized rate of 0.5% in December from a year earlier, below expectations for a 1.8% gain and after rising at a rate of 2.8% in the preceding month.

Following the release of that data, the euro was modestly higher against the U.S. dollar, with EUR/USD easing up 0.01% to trade at 1.3640.

Meanwhile, European stock markets held on to gains. The EURO STOXX 50 rose 0.8%, France’s CAC 40 added 0.6%, Germany's DAX tacked on 0.9%, while London’s FTSE 100 picked up 0.35%.

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