Euro zone industrial production fell more than expected in January. This added to growing private sector gloom about euro zone growth prospects.
European statistics office Eurostat said industrial production fell by 1.9 per cent compared with expectations of a 0.2 per cent decline.
Eurostat noted that January was the first month to include Greece in euro zone aggregates. According to revised comparable back data it made available, Euro-12 industrial production in December would have risen 1.7 per cent month-on-month and by 8.1 per cent year-on-year.
The drop in industrial production in January had been expected after the euro zone's business climate indicator, a leading index developed by the European Commission, fell sharply that month.
The indicator stabilised in February at levels suggesting industrial production was still expanding at above its historical two per cent trend rate of growth.