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- Eurozone’s industrial production drops 0.7% in November
Eurozone’s industrial production drops 0.7% in November
Eurostat released its industrial production data for the Eurozone on Wednesday. Industrial production in the Eurozone dropped 0.7% in November, missing expectations for a 0.3% decrease, after a 0.8% rise in October. October's figure was revised up from a 0.6% increase.
The fall was driven by declines in durable consumer goods, energy and capital output. Durable consumer goods output fell 1.0% in November, capital goods output dropped 1.9%, while energy output plunged 4.3%.
Intermediate goods output was up 0.7% in November, while non-durable consumer goods were up 0.1%.
On a yearly basis, Eurozone's industrial production gained 1.1% in November, missing expectations for a 1.3% rise, after a 2.0% increase in October. October's figure was revised up from a 1.9% gain.
The increase was mainly driven by rises in durable consumer goods, non-durable consumer goods, intermediate goods output and capital goods. Durable consumer goods climbed by 1.7% in November from a year ago, capital goods rose by 1.2%, non-durable consumer goods gained by 1.2%, while intermediate goods output increased by 2.1%.
Energy output declined by 2.8% in November from a year ago.
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