Luxembourg shows the biggest drop of industrial production in eurozone


Luxembourg was the country with the biggest drop in industrial production for the eurozone area in 2016 by just over 5%, according to Eurostat report.

In the eurozone as whole, the figure actually increased by 1.3%, and by 1.4% for the entire European Union in 2016.

Croatia, Lithuania and Denmark reported the highest industrial production, while the biggest declines were seen in Luxembourg (-5.1%), Ireland (-1.8%), Germany (-0.8%) and Sweden (-0.8%).

In relation to December 2016, the 19 eurozone countries produced 1.6% less compared with November last year.

Despite the figures, compared with the same period in 2015, industrial production grew by 1.3% from January to December last year.