Brussels: Industrial production in the euro area fell 1.5% in January compared to the previous month, according to data released Friday by Eurostat. On an annual basis, industrial output in the eurozone declined 1.2% in January.

According to Anadolu Agency, across the European Union, industrial production dropped 1.6% month-on-month and fell 0.6% compared with the same month last year. Among EU member states, the sharpest monthly decline in industrial output was seen in Ireland, where production fell 9.8%. Luxembourg followed with a 4.3% drop, while Sweden posted a 4.1% decline.

The largest monthly increase was seen in Portugal, where industrial output rose 4.2%. Latvia followed with a 3.3% increase while Lithuania saw a 2.7% gain. On an annual basis, the steepest contraction was in Luxembourg, where production fell 14.9%. Ireland saw a 13.1% drop while Bulgaria posted an 8.6% decline.

The highest annual increases were seen in Latvia, where output rose 13.3%, followed by Denmark with an 11.5% climb and Estonia with a 5.9% rise.