2023.03.1510:24:00UTC+00Eurozone Industrial Output Recovers In January

Eurozone industrial production recovered in January driven by a rebound in intermediate goods output, Eurostat reported Wednesday.

Industrial production posted a monthly growth of 0.7 percent after falling 1.3 percent in December. The growth rate also exceeded economists' forecast of 0.4 percent.

The expansion was solely driven by the 1.5 percent rise in intermediate goods output. All other sub-sectors contracted from December.

Non-durable consumer goods production registered the biggest fall of 2.1 percent. This was followed by a 0.8 percent drop in energy output and 0.7 percent decline in durable consumer goods output. Production of capital goods fell only 0.2 percent.

On a yearly basis, industrial production grew 0.9 percent in January, in contrast to the 2.0 percent decrease in December. Economists had forecast a 0.2 percent rise for January.