empty
 
 

2021.01.1311:01:00UTC+00Eurozone Industrial Production Growth Improves In November

Eurozone industrial production growth accelerated unexpectedly in November driven by robust growth in capital goods output, data from Eurostat showed Wednesday.

Industrial output climbed 2.5 percent month-on-month, faster than the 2.3 percent increase seen in October. This was the fastest growth in four months and far exceeded the economists' forecast of 0.2 percent.

Production of capital goods advanced 7 percent and that of intermediate goods gained 1.5 percent. Meanwhile, energy output declined 3.9 percent. Durable and non-durable consumer goods production slid 1.2 percent and 1.7 percent, respectively.

On a yearly basis, the decline in industrial production slowed to 0.6 percent from 3.5 percent in October. Output was forecast to fall 3.3 percent.

In the EU27, industrial production grew 2.3 percent on month in November but decreased 0.4 percent from the same period last year.

Among member countries, Ireland posted the biggest monthly growth of 52.8 percent. Meanwhile, the largest decreases were seen in Portugal, Belgium and Croatia.

Looking ahead, there is now much less room for "catch-up" growth as factories get back to normal, and prospects for the first quarter will be adversely affected by the extended lockdowns now in place, Jack Allen-Reynolds, an economist at Capital Economics, said.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback