The euro area industry started the year better than expected

Industrial production in the euro area grew more than expected in January – according to a Eurostat report published on Thursday. Hungarian industrial production reached its second highest monthly growth in the European Union in January, and its third highest annual growth in January.

In January, industrial production in the euro area grew by 2.3 percent, seasonally adjusted, following a month-on-month decline of 1.8 percent in December. The market expected a 1.4 percent monthly growth for January.

Compared with a year before, industrial production in the euro area declined by 1.9 percent in January, after an annual decline of 3.6 percent in December. (MTI)