Investing.com - Industrial production in the euro zone rose for the first time in four months in December, easing 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 rose by a seasonally adjusted 0.7% in December, compared to expectations for a 0.2% increase.
Industrial production in November was revised down to a 0.7% decline from a previously reported drop of 0.3%.
Year-on-year, industrial production fell at an annualized rate of 2.4% in December, after dropping at a rate of 4% in the preceding month. Analysts had expected industrial production to decline at an annualized rate of 2.3%.
Following the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.16% to trade at 1.3476.
Meanwhile, European stock markets remained mixed. The EURO STOXX 50 lost 0.1%, France’s CAC 40 dipped 0.2%, Germany's DAX advanced 0.1%, while London’s FTSE 100 eased down 0.3%.
In a report, Eurostat, the European statistics agency said industrial production rose by a seasonally adjusted 0.7% in December, compared to expectations for a 0.2% increase.
Industrial production in November was revised down to a 0.7% decline from a previously reported drop of 0.3%.
Year-on-year, industrial production fell at an annualized rate of 2.4% in December, after dropping at a rate of 4% in the preceding month. Analysts had expected industrial production to decline at an annualized rate of 2.3%.
Following the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.16% to trade at 1.3476.
Meanwhile, European stock markets remained mixed. The EURO STOXX 50 lost 0.1%, France’s CAC 40 dipped 0.2%, Germany's DAX advanced 0.1%, while London’s FTSE 100 eased down 0.3%.