Euro area Industrial Production rises by 1.2% in December vs. 0.3% expected

• Industrial Production in the euro area rose at a stronger pace than expected in December.
• EUR/USD clings to daily gains, stays below 1.1400.

Industrial Production in the euro area increased by 1.2% on a monthly basis in December, Eurostat reported on Wednesday. This reading followed November's expansion of 2.4% but surpassed the market expectation of 0.3%. In the EU, Industrial Production was up 0.7%.

On a yearly basis, Industrial Production in the euro area and the EU grew by 1.6% and 2.5%, respectively.

Market reaction

These figures were largely ignored by market participants and the EUR/USD pair was last seen rising 0.2% on the day at 1.1380.