Eurozone Industrial Production SOARS 1.7% During January

Fret not: according to Eurostat, industrial production shot up 1.7% in January.

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AP: Industrial production in the 16 countries that use the euro spiked by a massive 1.7 percent in January from the month before, raising hopes that the recovery from recession may be more buoyant than expected.

Friday's official figures from Eurostat, the EU's statistics office, also show that industrial production was up 1.4 percent in the year to January.

The much better than anticipated figures may well ease concerns that the eurozone recovery is stalling -- concerns that had been reinforced by a run of poor data.

Industrial output is particularly important for the eurozone economy, which relies heavily on the export of high-quality manufactured goods, particularly from Germany.

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