Eurozone output

BRUSSELS: Official figures show industrial production across the 19-country eurozone spiked by a monthly rate of 2.1 per cent in January in a development that may ease some concerns about underlying economic conditions. The bigger than anticipated increase followed two monthly declines, including a 0.5 per cent drop in December. The consensus in the markets was for a more modest increase of 1.6 per cent. Germany, Europe’s biggest economy, was largely behind the gain, with a 2.9 per cent spike in output during the month. The figure reported on Monday by Eurostat means that industrial output across the eurozone was 2.8 per cent on a year-on-year basis.