UK markets closed
  • FTSE 100

    6,483.43
    -168.53 (-2.53%)
     
  • FTSE 250

    20,910.37
    -287.75 (-1.36%)
     
  • AIM

    1,183.25
    -8.61 (-0.72%)
     
  • GBP/EUR

    1.1537
    +0.0039 (+0.34%)
     
  • GBP/USD

    1.3921
    -0.0091 (-0.65%)
     
  • BTC-GBP

    33,229.66
    -1,957.05 (-5.56%)
     
  • CMC Crypto 200

    912.88
    -20.25 (-2.17%)
     
  • S&P 500

    3,811.15
    -18.19 (-0.48%)
     
  • DOW

    30,932.37
    -469.64 (-1.50%)
     
  • CRUDE OIL

    61.66
    -1.87 (-2.94%)
     
  • GOLD FUTURES

    1,733.00
    -42.40 (-2.39%)
     
  • NIKKEI 225

    28,966.01
    -1,202.26 (-3.99%)
     
  • HANG SENG

    28,980.21
    -1,093.96 (-3.64%)
     
  • DAX

    13,786.29
    -93.04 (-0.67%)
     
  • CAC 40

    5,703.22
    -80.67 (-1.39%)
     

Euro zone industrial production falls more than expected in Dec

·1-min read
FILE PHOTO: A steel worker of Germany's industrial conglomerate ThyssenKrupp AG takes a sample of raw iron from a blast furnace at Europe's largest steel factory in Duisburg

BRUSSELS (Reuters) - Euro zone industrial production shrank more that expected in December under the weight of falling output of capital and non-durable consumer goods, data showed on Monday, confirming the euro zone's economic contraction in the fourth quarter.

The European Union's statistics office Eurostat said production in the 19 countries sharing the euro fell 1.6% month-on-month for a 0.8% year-on-year decline as much of the economy was closed to prevent the spread of the COVID-19 pandemic.

Economists polled by Reuters had expected a 1.0% monthly and a 0.3% annual decrease.

The output of capital goods, used for investment, plunged 3.1% on the month and year-on-year while the production non-durable consumer goods -- usually food or clothes -- was down 0.6% on the month and 3.9% on the year.

This offset the increased production of rises in intermediate goods and durable consumer goods.

Eurostat estimated earlier this month that the euro zone economy contracted 0.7% quarter-on-quarter, for a 5.1% year-on-year decline and economists expect another GDP fall in the first three months of this year amid continued economic lockdowns.

(Reporting by Jan Strupczewski)