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EU industrial production falls again

Staff Writer | February 13, 2019
Euro area industrial production continued to fall at the end of last year, official data showed on Wednesday.
German factory
Europe   Industrial production in the eurozone fell 0.9% in December
Industrial production in the eurozone fell 0.9% in December compared to the preceding month, a report from statistics agency Eurostat showed, much more than the forecast 0.4% decline and following the 1.7% fall in November.

Compared to December the previous year, IP was down 4.2%, with the deceleration stepping up from the 3.0% drop in November and worse than the 3.2% that economists had expected.

While a rise of 0.8% in France and 0.2% in Germany was already known, the Eurostat data showed that Italy slide 0.8%, Spain drop 1.4% and Ireland tumble 13.4%.

With earlier hiccups for the automotive sector easing, December saw production of durable consumer goods rebounding further, indicating that the auto sector is revving up again. Vehicle production was up 8.2% helped by a 9.9% jump in Germany. Output from the volatile energy sector fell by only 0.4%.

Stripping out autos, IP fell 1.8% on the month, with capital goods production down 1.5%.