Eurozone industrial production rose sharply in January

According to the report from Eurostat, in January 2020 compared with December 2019, seasonally adjusted industrial production rose by 2.3% in the euro area (EA19) and by 2.0% in the EU27. Economists had expected a 1.4% increase in the euro area. In December 2019, industrial production fell by 1.8% in the euro area and by 1.6% in the EU27.

In January 2020 compared with January 2019, industrial production decreased by 1.9% in the euro area and by 1.5% in the EU27. Economists had expected a 3.1% decrease in the euro area.

In the euro area in January 2020, compared with December 2019, production of intermediate goods rose by 3.2%, capital goods by 2.6%, non-durable consumer goods by 0.8% and durable consumer goods by 0.7%, while production of energy fell by 0.1%. In the EU27, production of intermediate goods rose by 3.2%, capital goods by 2.1%, durable consumer goods by 1.1%, non-durable consumer goods by 0.7% and energy by 0.1%.

In the euro area in January 2020, compared with January 2019, production of energy fell by 6.7%, intermediate goods by 2.3% and capital goods by 1.9%, while production of non-durable consumer goods rose by 1.3% and durable consumer goods by 2.6%. In the EU27, production of energy fell by 5.8%, capital goods by 2.0% and intermediate goods by 1.5%, while production of non-durable consumer goods rose by 1.5% and durable consumer goods by 2.6%.