Eurozone: Eurozone industrial production rebounds in October
December 14, 2015
Eurozone industrial output rebounded in November, following two consecutive months of decline. In October, industrial output increased a seasonally-adjusted 0.6% over the previous month, which contrasted the 0.3% contraction registered in the previous month and overshot the 0.3% rise the markets had expected.
October’s increase reflected expansions in manufacturing of durable consumer goods, capital goods as well as energy. On a year-on-year basis, industrial production increased 1.9% in October, which was stronger than the 1.3% expansion observed in September.
Among the Euro area economies, for which data are available, the expansion was driven by a notable increase in Lithuania (+11.3% month-on-month) and expansions in the Netherlands (+4.3% mom), Portugal (+3.9% mom), and Ireland (+3.4% mom). Conversely, industrial production decreased in Belgium, Cyprus, and Greece.
Among the region’s major economies, industrial output expanded in France (+0.5% mom), Germany (+0.1% mom), Italy (+0.5% mom) and Spain (+0.3% mom).
Author: Ricardo Aceves, Senior Economist