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Euro area industrial production drops more quickly than expected

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Staff Writer |
Euro area industrial
Europe   Economists had projected a drop of 1.2%

Euro area industrial production shrank more quickly than expected in November, amid sharp declines in the output of capital and durable consumer goods.

According to Eurostat, industrial output in the 19 member strong single currency bloc weakened by 1.7% month-on-month and decreased by 3.3% year-on-year.

Economists had projected a drop of 1.2% versus October and a fall of 2.0% in comparison to the same month one year ago.

Versus October, production of capital goods was the weakest link in the chain, retreating by 1.3%, while that of durable consumer goods fell back by 1.7%.

Output of intermediate and non-durable consumer goods also softened, by 1.2% and 1.0%, respectively.

Energy production meanwhile was down by 0.6%.

From among the euro area's largest economies, industrial output in Germany was weakest, dropping by 1.7% on the month, followed close behind by falls of 1.6% in both Italy and Spain.

In France, production shrank by 1.3% although in the Netherlands it was flat.

Irish industrial production was especially weak, retrating by 7.5%.


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