Sharp Decline in Industrial Production in the Eurozone in January

The European Statistics Office (Eurostat) has released seasonally adjusted industrial production data for the European Union (EU) and the Eurozone for January.

According to the data, industrial production in the Eurozone fell by 3.2% in January compared to December and by 6.7% compared to the same period last year.

Market expectations had anticipated a monthly decrease of 1.8% and an annual decrease of 2.9% in industrial production in the Eurozone. The actual figures surpassed these expectations significantly.

In the EU, industrial production declined by 2.1% on a monthly basis and by 5.7% on an annual basis in January.

In January, among EU countries, the largest monthly declines in industrial production were observed in Ireland with 29%, Malta with 9.4%, and Estonia with 6.6%.

On an annual basis, the most significant decreases in industrial production were recorded in Ireland with 34.1%, Estonia with 8.6%, and Bulgaria with 7.6%.

source: prepared by Melisa Beğiç

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