The first decrease in three months was witnessed in the Eurozone industrial production in January, largely due to a slump in capital goods output, according to data from Eurostat released on Wednesday. The industrial output experienced a 3.2 percent fall on a month-to-month basis, which undermined December's 1.6 percent rise. This downturn was more severe than the predicted 1.5 percent drop by economists.
The production of intermediate goods and energy witnessed an upturn of 2.6 percent and 0.5 percent, respectively. On the other hand, the output of capital goods, along with durable and non-durable consumer goods, took a hit. The biggest drop of 14.5 percent was recorded in capital goods production. Concurrently, the output of durable consumer goods declined by 1.2 percent, and that of non-durable consumer goods decreased by 0.3 percent.
In the EU27, industrial production fell 2.1 percent on a monthly basis, representing a 5.7 percent drop from the previous year. Among the member states, Ireland, Estonia, and Bulgaria experienced the most significant declines, while Slovenia, Greece, and Denmark reported robust growth.
