Another awful European economic datapoint.
Industrial production fell 0.4% in January.
It was expected to decline by just 0.1%.
From the report:
In January 2013 compared with December 2012, seasonally adjusted industrial production fell by 0.4% in both the euro area (EA17) and the EU272, according to estimates released by Eurostat, the statistical office of the European Union. In December 20123 production grew by 0.9% and 0.8% respectively. In January 2013 compared with January 20124, industrial production decreased by 1.3% in the euro area and by 1.7% in the EU27.
Ultimately not much new. The economy is bad.
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