March 14, 2018 / 10:12 AM / 6 days ago

Euro zone Jan industrial output weaker than expected because of energy

BRUSSELS (Reuters) - Euro zone industrial production was weaker than expected in January, mainly due to a sharp drop in the output of energy, data from the European Union’s statistics office showed on Wednesday.

FILE PHOTO - A worker welds at a Portuguese exporting factory in Pontinha, on the outskirts of Lisbon March 18, 2013. REUTERS/Jose Manuel Ribeiro

Production in the 19 countries sharing the euro fell 1.0 percent month-on-month in January for a 2.7 percent year-on-year rise. Economists polled by Reuters had expected only 0.4 percent monthly decline and a 4.7 percent year-on-year increase.

Eurostat also revised upwards year-on-year data for December to 5.3 percent growth from the previously reported 5.2 percent.

Energy had the biggest downward pull on the aggregate number because its production fell 6.6 percent on the month and 10.4 percent from a year earlier.

Reporting By Jan Strupczewski; editing by Philip Blenkinsop

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