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Weak Irish factory output pulls down eurozone industrial production


economy

Weak Irish factory output pulls down eurozone industrial production

Industrial production in the eurozone failed to rise as expected in December and Ireland was the culprit.

Irish factory output slipped by 12.4 percent from the previous month.

That – coupled with declines in several mostly peripheral eurozone states – wiped out gains in Germany, France and Italy – the bloc’s three largest economies.

The declines were in Estonia, Finland, Greece, Malta, the Netherlands, Portugal and Spain.

Overall industrial production in the 18 countries sharing the euro in December was unchanged.

Year-on-year, production was down 0.2 percent.

The numbers suggest the eurozone economy again experienced only weak growth in the final quarter of 2014.

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