Industrial production in the eurozone grew at its fastest rate for more than 20 years in January, amid signs of a far more sustained recovery than had been seen previously.Factory output rose 1.7 per cent from December, the largest leap since the European Union's statistical arm started compiling the data in January 1990. The monthly survey also sharply revised the industrial production figure for December, estimating a 0.6 per cent growth instead of a 1.7 per cent fall predicted earlier. The revision means that industrial output in the 16-country currency bloc is higher than the year-earlier figure for the first time since April 2008, though it remains about 15 percentage points lower than the peak before tje global financial crisis, and even below long-term trends. Part of the upswing can be put down to rising energy production amid unusually cold winter weather. Economists had factored in some industrial growth after a trickle of figures from national authorities earlier this week, but were taken aback by the scale of the upswing.
Industrial production in the eurozone grew at its fastest rate for more than 20 years in January, amid signs of a far more sustained recovery than had been seen previously.
Factory output rose 1.7 per cent from December, the largest leap since the European Union's statistical arm started compiling the data in January 1990.
The monthly survey also sharply revised the industrial production figure for December, estimating a 0.6 per cent growth instead of a 1.7 per cent fall predicted earlier.
The revision means that industrial output in the 16-country currency bloc is higher than the year-earlier figure for the first time since April 2008, though it remains about 15 percentage points lower than the peak before tje global financial crisis, and even below long-term trends.
Part of the upswing can be put down to rising energy production amid unusually cold winter weather.
Economists had factored in some industrial growth after a trickle of figures from national authorities earlier this week, but were taken aback by the scale of the upswing.
