Euro Area Industrial Production To Tick Lower (YoY) In January

The industrial production data for the euro area released today by the European Commission signaled an increase by 0.8% (seasonally adjusted) from December 2020 whereas on a year over year basis the indicator marked a decrease by 0.5% from January 2020 (calendar and seasonally adjusted).

euro area industrial production

Industrial production data

euro area industrial production

Industrial production % change Year on year

Within main euro area countries, we saw a decrease in industrial production in on a year on year basis in Greece, Germany, Euro area, Italy, and slightly in Spain, whereas the increase in industrial output was seen in France from -2.7% in December to -0.2% in January.

The lag in vaccination rollout among European countries as well as the absence of a robust fiscal policy is likely to make the recovery phase in the euro area needs a further long time to be accomplished.

This is shown today through the industrial production data and the coming indicators are also expected to show a slower pace of recovery.

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