Euro-Area Industrial Output Falls by Most in More Than a YearBy
Industrial production in the euro area started 2018 with its weakest monthly performance in over a year, adding to evidence that regional economic pickup may be coming off the boil.
Output declined 1 percent in January from December, the European Union’s statistics office in Luxembourg said on Wednesday, citing fall in the production of energy, and durable and intermediate goods. That’s the worst monthly reading since late 2016 and falls short of the 0.5 percent decrease predicted in a Bloomberg survey of economists.
The figures constitute another data point suggesting momentum in the 19-country region might be tapering off again after a bumper 2017. Still, the European Central Bank raised its full-year growth forecast for the year last week and now sees the fastest economic expansion since 2007.
Among countries, decreases were registered in the Netherlands and Spain, Eurostat said. Germany, the region’s biggest economy, barely eked out a rise. From a year earlier, industrial production rose just 2.7 percent, its smallest increase since April 2017.
— With assistance by Andre Tartar, and Kristian Siedenburg