EU posts weak industrial production numbers for December

Feb. 12, 2014 at 9:50 AM
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BRUSSELS, Feb. 12 (UPI) -- Industrial production declined in the European Union from November to December, the European Commission's statistical office reported Wednesday.

Production fell 0.7 percent month-to-month in both the 28-member European Union and the 18-member eurozone, the countries that share the euro as currency, Eurostat said.

From a year prior, production was ahead, gaining 0.5 percent in the eurozone and 0.9 percent in the EU compared to December 2012.

On average, however, production dropped month-to-month, sliding 0.8 percent in the eurozone and 0.5 percent in the EU.

From November 2013, production of capital goods dropped 2.1 percent in the eurozone. Energy production fell 2.1 percent and non-durable goods production slid 0.1 percent.

Production of durable goods -- items expected to last three years or more -- rose 0.4 percent.

The EU posted similar figures with a 1.9 percent and 1.5 percent drop in production of capital goods and energy, respectively. Production of non-durable goods in the EU declined 0.1 percent. Durable goods production, however, fell 0.3 percent.

Production fell in 19 member states with available data and rose in four. The largest decline was posted by Estonia with a drop of 5.7 percent. The largest gain was posted by Slovenia with a gain of 2.7 percent.

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