Eurozone Industrial Production Recovers In November

(RTTNews) - Eurozone industrial production recovered in November largely reflecting higher output of intermediate and capital goods, Eurostat reported Friday.

Industrial production grew 1.0 percent on a monthly basis in November, in contrast to the 1.9 percent decline in October. Output was expected to climb moderately by 0.5 percent.

The increase was largely reflective of 0.8 percent gain in intermediate goods output and 1.0 percent growth in capital goods production. Durable consumer goods output moved up 0.4 percent.

Partially offsetting these gains, non-durable consumer goods output fell 1.3 percent and energy production slid 0.9 percent.

Year-on-year, industrial production growth softened in November, to 2.0 percent from 3.4 percent in October.

This was the weakest growth in the current four month sequence of growth and slower than economists' forecast of +0.5 percent.

Industrial production in the EU27 climbed 0.9 percent on month, taking the annual increase to 2.0 percent in November.