Eurostat: An uneven recovery in industrial production
Overview:
Industrial production figures for December proved disappointing, recording negative m-o-m (seasonally adjusted) growth in both the Euro area and EU-27. Both saw a continued stabilisation in output on a y-o-y basis, however. Within Eastern Europe, CEE continues to fare best with Poland, in particular, outperforming by showing positive y-o-y growth not only in December but for Q4 as a whole. The Baltic States continue to see significant y-o-y output contractions although even here the output falls are moderating on a quarterly basis. There is a good deal of divergence within SEE. Romania continues to fare well recording positive y-o-y growth in both November and December. Slovenia also returned to positive y-o-y growth in December but output is still contracting at a double-digit pace in Bulgaria.