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March 2016

Eurozone industrial production increases

Published: Monday 14 March 2016

Eurozone industrial production grew at its highest rate in more than six years during January, driven by a sharp increase in output from Ireland. Production rose by 2.1% versus 1.6% expected, reversing negative readings in December and November. However, while the rise was above expectations analysts have warned that growth might not be sustained at these levels. It is the highest monthly rise since September 2009, when monthly output jumped 2.3%. Ireland recorded the biggest increase in production, which rose 12.7% in January compared with December. Growth was also boosted by a sharp rise in capital goods, such as equipment and machinery, which are an indicator of future industrial investments. The news bodes well for the Eurozone and should support the common currency throughout the rest of the session.