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Eurozone Industrial Production Rebounds In January


Eurozone's industrial production grew more-than-expected in January after declining in the previous two months, but the outlook remains uncertain amid worries of slowing global demand.

Industrial production rose 1.4 percent from December, when it fell 0.9 percent, figures from the statistical office showed on Wednesday. Economists had forecast a 1 percent increase.

Growth was driven by a 2.4 percent surge in energy production, followed by a 2 percent climb in the output of non-durable consumer goods.

Capital goods output rose 0.9 percent, durable goods production grew 1.1 percent and manufacture of intermediate goods was 0.2 percent higher.

On a year-on-year basis, industrial production decreased 1.1 percent after a 4.2 percent slump in December. Economists had forecast a 2.10 percent fall.

"With Brexit and the US-China trade deal coming down to the wire, largely diverging production impacts can be expected with especially a 'no-deal' Brexit causing significant Eurozone production disruption," ING economist Bert Colijn said.

"The outlook for industry, therefore, remains clouded by uncertainty."

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