Eurozone's industrial production decreased further in January, though at a slower rate than in the previous month, data released by statistical office Eurostat showed Wednesday.

Industrial production decreased 1.3 percent on an annual basis in January, slower than the 1.7 percent decease seen in December. Economists had forecast output to decrease 2 percent.

Among industrial sub-groups, production of intermediate goods fell 3.1 percent annually, and capital goods output dropped 2.6 percent. Production of durable consumer goods fell 5.5 percent from a year earlier, while output of non-durable consumer goods rose 3.1 percent. There was a 0.9 percent rise in energy production.

Overall production in the European Union (EU) decreased 1.7 percent from a year earlier, after falling 1.8 percent in December.

On a monthly basis, industrial output decreased 0.4 percent in January, reversing the previous month's 0.9 percent increase. Economists were looking for a 0.1 percent decline.

In the European Union, industrial output decreased 0.4 percent month-on-month, following December's 0.8 percent growth, data showed.