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Bert Colijn, senior economist at ING, points out that the Eurozone’s industrial production posted a month-on-month increase of 1.4% was better than expected in January.

Key Quotes

“Spain, France, Italy and the Netherlands all showed strong bounce backs in production at the start of the year, giving some hope the slowdown in the Eurozone economy could still be halted. All production categories saw output increase in January, with the strongest growth in energy and non-durable consumer goods production.”

“Expectations of a structural rebound in industrial output remain alive, as the downward drag from temporary factors should fade out over the coming months. That leaves the negative impact from global economic factors that have been weighing on Eurozone industry and have caused new export orders to contract.”