Eurozone: Industrial output reverts into negative territory in 2012
February 13, 2013
In December, industrial production rose 0.7% over the previous month in seasonally adjusted terms, which contrasted the 0.7% fall recorded in November (previously reported: -0.4% month-on-month). The reading was above market expectations of a 0.2% increase and marked the first rise after three consecutive drops.
At a country level, Ireland (+8.5% mom) and Slovenia (+2.7% mom) were the region's best performers whereas, at the other end of the spectrum, Slovakia (-4.4% mom) and Estonia (-1.0% mom) recorded the worst results. Among the region's major economies, industrial output expanded in Germany (+0.8% mom) and Italy (+0.1% mom), whereas France and Spain recorded zero growth.
On an annual basis, industrial production declined 2.5%, which represents an improvement over the 4.0% contraction registered in November. In the full year 2012, industrial production contracted 2.4%, contrasting the 3.5% expansion recorded in 2011.
Author: Armando Ciccarelli, Head of Data Solutions