Some Good News Out Of Europe

This was a better than the 0.2 percent economists were looking for.

Markets haven't moved much on the news.

From Eurostat:

Monthly comparison
In December 2012 compared with November 2012, production of non-durable consumer goods grew by 2.0% in the euro area and by 1.3% in the EU27. Durable consumer goods increased by 2.0% and 0.4% respectively. Capital goods rose by 1.3% in the euro area and by 1.2% in the EU27. Intermediate goods fell by 0.2% and 0.3% respectively. Production of energy dropped by 1.2% in the euro area and by 0.4% in the EU27.

Among the Member States for which data are available, industrial production rose in fourteen, fell in six and remained stable in Spain, France and Romania. The highest increases were registered in Ireland (+8.5%), Latvia and Slovenia (both +2.7%), and the largest decreases in Slovakia (-4.4%) and Denmark (-2.3%).

Annual comparison
In December 2012 compared with December 2011, production of intermediate goods fell by 4.6% in both the euro area and the EU27. Durable consumer goods dropped by 3.9% and 4.8% respectively. Capital goods decreased by 2.9% in the euro area and by 2.3% in the EU27. Non-durable consumer goods declined by 1.3% and 1.9% respectively. Production of energy increased by 1.2% in the euro area and by 0.4% in the EU27.

Among the Member States for which data are available, industrial production fell in fifteen and rose in eight. The largest decreases were registered in Spain (-6.9%), Italy (-6.6%), the Czech Republic (-5.8%) and Poland (-5.4%), and the highest increases in Latvia (+10.7%), Malta (+10.3%) and Lithuania (+9.1%).