Eurozone industrial production rose more than expected in October

According to the report from Eurostat, in October 2020, the seasonally adjusted industrial production rose by 2.1% in the euro area and by 1.9% in the EU, compared with September 2020. Economists had expected a 2.0% increase in the euro area. In September 2020, industrial production grew by 0.1% in the euro area and by 0.3% in the EU.

In October 2020 compared with October 2019, industrial production decreased by 3.8% in the euro area and by 3.1% in the EU. 

In the euro area in October 2020, compared with September 2020, production of capital goods rose by 2.6%, intermediate goods by 2.1%, energy by 1.8% and durable consumer goods by 1.5%, while production of nondurable consumer goods remained unchanged. In the EU, production of capital goods rose by 2.6%, intermediate goods by 2.1%, durable consumer goods by 1.3% and energy by 1.2%, while production of non-durable consumer goods fell by 0.4%.

In the euro area in October 2020, compared with October 2019, production of capital goods fell by 8.2%, nondurable consumer goods by 2.1% and intermediate goods by 1.3%, while production of durable consumer goods rose by 0.3% and energy by 0.1%. In the EU, production of capital goods fell by 7.1%, non-durable consumer goods by 2.4%, energy by 1.5% and intermediate goods by 0.5%, while production of durable consumer goods rose by 2.3%.