Eurozone industrial production rose sharply in November

According to the report from the Eurostat, in November 2020, the seasonally adjusted industrial production rose by 2.5% in the euro area and by 2.3% in the EU, compared with October 2020. Economists had expected a 0.2% increase in the euro area. In October 2020, industrial production grew by 2.3% in the euro area and by 2.0% in the EU.

In November 2020 compared with November 2019, industrial production decreased by 0.6% in the euro area and by 0.4% in the EU. 

In the euro area in November 2020, compared with October 2020, production of capital goods rose by 7.0% and intermediate goods by 1.5%, while production of durable consumer goods fell by 1.2%, non durable consumer goods by 1.7% and energy by 3.9%.

In the EU, production of capital goods rose by 6.1% and intermediate goods by 1.4%, while production of durable consumer goods and non durable consumer goods fell by 1.1% and energy by 2.9%.

Among Member States, for which data are available, the highest increases were registered in Ireland (+52.8%), Greece (+6.3%) and Denmark (+5.3%). The largest decreases were observed in Portugal (-5.1%), Belgium (-3.5%) and Croatia (-2.6%).