EU: Industrial Production in Euro Area Contracts by 1.6% in December

The data published by the Eurostat showed on Monday that Industrial Production in the euro area contracted by 1.6% on a monthly basis in December. This reading followed November’s expansion of 2.6% and came in worse than the market expectation for a decrease of 0.6%. On a yearly basis, Industrial Production declined by 0.8% in 2020.