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Eurozone industrial production rebounds more than expected in January

Seasonally adjusted industrial production in the eurozone climbed 1.4% on a monthly basis in January, after declining 0.9% in December 2018, data from Eurostat showed.

The Econoday consensus forecast was for a 1.0% monthly rise.

Energy production rose 2.4% compared with the prior month, while non-durable consumer goods production was up 2.0% and production of durable consumer goods increased 1.1%. Production of capital goods and intermediate goods edged up 0.9% and 0.2%, respectively.

Year over year, industrial production in the single-currency area fell 1.1% in January, following a 4.2% drop in the prior month and compared with the Econoday forecast of a 2.1% decrease.

Despite the rebound in January, uncertainty from Brexit and a potential U.S.-China trade deal will continue to weigh on eurozone industry, according to Bert Colijn, senior economist for the single-currency area at ING.

Last week, Italian and French industrial production figures showed month-over-month improvement in January, while German industrial production unexpectedly declined.