EU industrial production increased 6.8% YOY, growing as fast as it was precrisis
European industrial production is beginning to slowly catch up to where it was pre crisis as we see another solid month of industrial production growth. Note that while the value of industrial production is still not near the precrisis level, it is growing just as fast or faster, which means it is attempting to catch up as fast as it can. See chart below via Eurostat:
In January 2011 compared with December 2010, seasonally adjusted industrial production1 grew by 0.3% in the euro area (EA17) and by 0.6% in the EU27. In December 20103 production rose by 0.3% and 0.2% respectively.
In January 2011 compared with January 2010, industrial production grew by 6.6% in the euro area and by 6.8% in the EU27.