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Eurozone industrial production dips in December

Eurozone industrial production dips in December

February 14th, 2011 in News

LONDON (AP) - Official figures show that industrial production in the 16 countries that used the euro in December fell by a modest 0.1 percent over the month.

The decline reported Monday by Eurostat, the EU's statistics office, was more or less in line with expectations for a flat outcome in light of the heavy snow that gripped many parts of the eurozone during the month.

The figures will likely mean that expectations for Tuesday's fourth quarter economic growth figures will remain unchanged.

The consensus is that the eurozone economy grew by a quarterly rate of 0.4 percent in the October-December period, up from the previous quarter's 0.3 percent.

Estonia only became the 17th member of the euro at the start of this year.