...yet Eurozone prospects are hit by industrial output drop

Julian Harris
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EUROPE’S single currency area saw its industrial output slip more than expected at the start of the year, new data revealed yesterday.

Industrial production fell by 0.4 per cent in January when compared to December, the Eurostat office said.

Compared to a year earlier, it was down 1.3 per cent.

The bloc’s largest economy, Germany, saw its industrial production drop from 0.4 per cent at the start of the year. It has now fallen in five of the last six months.

“Although the worst of the manufacturing sector’s problems were probably seen around last October, it is plainly still finding a return to growth difficult,” said Howard Archer of IHS Global Insight.