Industrial production in the eurozone increased in December, surpassing estimates despite global supply-chain constraints and rising input prices.
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Output from factories, mines, and utilities across the region jumped 1.2% in December compared with November. The economists surveyed by The Wall Street Journal had projected a 0.1% increase.
Compared with November, production of capital goods grew 2.6% in December, intermediate goods 0.5%, and non-durable consumer goods 0.4% as production of durable consumer goods dropped 0.3%, and energy fell 0.8%.
On a yearly basis, industrial production expanded 1.6% in December, against the expected decline of 1.0% by the Journal’s economists.
Eurostat revised November’s figures to 2.4% on-month expansion, from a 2.3% jump previously. Upon the revision, industrial production dropped 1.4% on year in November rather than a gain of 1.5%.