FXstreet.com (Barcelona) - Industrial production has grown well above expectations in January after a weak performance in December, fuelled by increases in capital consumer goods and durable goods production, as the latest report by Eurostat shows.
Euro Zone's industrial production has increased 0.9% on the month, instead of the 0.4% expected by the analysts, December's Industrial production has been upwardly revised to a flat performance from the 0.2% decrease previously estimated.
Production of capital goods has risen 2.7% in January, while durable consumer goods posted a 1.9% growth, and production of intermediate goods rose 0.8%. On the negative side, production of energy has declined 2.9%.
On the year, industrial production has grown 3.8% in the Euro Area, following a 1.7% revised increase in December. The largest contributor to the yearly increase has been the 7.5% jump on capital goods production.