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Euro zone industrial production falls 0.4% in January

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Investing.com - dustrial production in the euro zone fell for the fourth time in five months in January, underlining concerns over the outlook for economic growth in the single currency bloc, official data showed on Wednesday.

In a report, Eurostat, the European statistics agency said industrial production fell by a seasonally adjusted 0.4% in January, compared to expectations for a 0.1% decline.

Industrial production in December was revised up to a 0.9% gain from a previously reported increase of 0.7%.

Year-on-year, industrial production fell at an annualized rate of 1.3% in January, after dropping at a rate of 2.4% in the preceding month. Analysts had expected industrial production to decline at an annualized rate of 2%.

Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.1% to trade at 1.3021.

Meanwhile, European stock markets remained lower. The EURO STOXX 50 lost 0.5%, France's CAC 40 dipped 0.5%, Germany's DAX shed 0.2%, while London's FTSE 100 eased down 0.2%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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