The latest figures on industrial production in the Eurozone just dropped, and things are finally looking up.
After several months of falls across the eurozone, industrial production grew by 2.1% in January, smashing the expectations of economists, and seemingly signalling the start of a recovery for an area of the European economy that has been struggling massively in recent months.
The data, released by statistical agency Eurostat, shows that production also grew by 1.7% across the European Union in January. Here’s the chart:
These figures compare to a 1% seasonally adjusted fall in the eurozone in December, and a fall of 0.7% in November.
The data will come as happy news for European Central Bank president Mario Draghi, after the bank last week announced a whole raft of new measures designed at boosting growth across the eurozone.
With growth returning — at least to industrial production — even before Draghi’s new measures, the bank will likely be expecting stimulus measures to boost things even more.