Industrial production still rising across the Eurozone

INDUSTRIAL production in the Eurozone started the year on the up, official data showed yesterday.

Production rose by 0.3 per cent on the previous month, despite December’s figure being hugely revised upwards to show a 0.3 per cent expansion, rather than the previous estimate of a 0.1 per cent decline.

Compared to the same time last year, Euro area industry was up 6.6 per cent, and up 6.8 per cent across the wider European Union.

“Adverse weather in early January is likely to have led to continued disruptions to business, and we expect the rate of growth to improve markedly in February,” added Markit economist Chris Williamson.

“The purchasing managers indices also point to an acceleration in February,” Williamson said. Among member states for which data are available, industrial production rose in 14 and fell in five.