2021.02.1509:24:00UTC+00Eurozone Industrial Production Falls For First Time In 3 Months

Eurozone industrial production declined for the first time in three months in December, data from Eurostat showed on Monday.

Industrial production fell 1.6 percent month-on-month in December, reversing November's 2.6 percent increase. Economists had forecast a 1 percent drop for December.

The decline was driven by a 3.1 percent decrease in capital goods output and 0.6 percent fall in non-durable consumer goods production. Meanwhile, intermediate goods output gained 1 percent and energy output advanced 1.4 percent. Durable consumer goods production moved up 0.8 percent.

On a yearly basis, industrial production dropped at a faster pace of 0.8 percent after easing 0.6 percent in the previous month. Output was forecast to fall 0.3 percent.

In 2020, industrial production decreased 8.7 percent from the previous year.

In the EU27, industrial output decreased 1.2 percent on month in December, taking the annual fall to 0.4 percent. In 2020, output decreased 8 percent.