Eurozone industrial production stronger than expected in November
Eurozone industrial production rose more than expected in November, according to the latest data from Eurostat.
Industrial production in the 19 countries that share the euro was up 1.5% from October, comfortably surpassing expectations for a 0.5% increase.
The production of non-durable consumer goods rose by 2.9%, intermediate goods by 1.6%, energy by 1.2% and capital goods by 0.1%. Production of durable consumer goods fell by 0.1%.
On the year, eurozone industrial production was up 3.2%, beating expectations for a 1.6% increase.
In the EU-28 group of nations, industrial production was 1.6% higher on the month and 3.1% stronger on the year.
Jack Allen, European economist at Capital Economics, said: “November’s rise in eurozone industrial production adds to the evidence that euro-zone GDP growth picked up in Q4. The 1.5% monthly increase in production was stronger than even our above-consensus forecast of a 1.2% rise.”