-Bostjan Jazbec, ECB's Governing Council member
German industrial production, which measures the volume change in output of factories, mines and utilities, barely rose in December, adding to signs that the European powerhouse experienced a patchy growth at the end of 2014. Industrial output climbed 0.1% in the reported month following a revised 0.1% growth in November and against analysts' forecast for a 0.4% increase. For the whole 2014 German industrial production declined by 0.7%, whereas economists had predicted a 0.3% drop. Meanwhile, German factory orders rebounded strongly in December, rising 4.2% on a monthly basis, while measured on a yearly basis, industrial orders increased 3.4%. In Spain industrial production rose in the final month of 2014, adding to recent positive signs in the nation's economy. Year-on-year and non-seasonally adjusted, industrial production advanced 2.1%, compared to a revised 0.5% contraction in November.
Meanwhile, Bostjan Jazbec, the ECB's Governing Council member, hinted that the central bank may wind down its government bond-buying programme sooner than it was originally planned in September 2016 if inflation reaches the targeted level of just below 2%. Jazbec also said that QE would have a positive impact on the Euro zone economy, providing governments implemented structural reforms.
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