Euro area and EU industrial production drops. Eurostat, the statistical office of the European Union, has released estimates showing a decline in industrial production for the month of December 2022.
According to the data, the seasonally adjusted industrial production fell by 1.1% in the euro area and by 0.4% in the EU, compared with November 2022.
This is in stark contrast to the previous month, where industrial production had increased by 1.4% in the euro area and by 1.2% in the EU.
However, the data also indicates a year-on-year decline in industrial production, with December 2022 recording a decrease of 1.7% in the euro area and by 0.4% in the EU, compared with December 2021.