The industrial production data for the euro area released today by the European commission signaled an increase by 0.8% (seasonally adjusted) from December 2020 whereas on a year over year basis the indicator marked a decrease by 0.5% from January 2020 (calendar and seasonally adjusted)

euro area industrial production
industrial production data
euro area industrial production
industrial production % change Year on year

Within main euro area countries we saw a decrease in industrial production in on a year on year basis in Greece, Germany, Euro area, Italy, and slightly in Spain, whereas the increase in industrial output was seen in France from -2.7% in December to -0.2% in January.

The lag in vaccination rollout among European countries as well as the absence of a robust fiscal policy is likely to make the recovery phase in euro area needs further long time to be accomplished.

This is shown today through the industrial production data and the coming indicators are also expected to show the slower pace of recovery.