Euro Area and EU yearly industrial growth rises, according to Eurostat, the statistical office of the European Union.
When comparing January 2023 with the same month in the previous year, industrial production experienced an increase of 0.9% in the euro area and 1.0% in the European Union (EU).
This year-over-year growth emphasizes the region’s ongoing economic progress and resilience despite various challenges faced during the past year.
Furthermore, in January 2023, the seasonally adjusted industrial production saw a notable increase in the euro area and the EU, compared with December 2022.
According to estimates from Eurostat, the statistical office of the European Union, industrial production grew by 0.7% in the euro area and by 0.3% in the EU.
This marks a significant recovery, as in December 2022, industrial production had decreased by 1.3% in the euro area and by 0.6% in the EU.