Eurozone: Industrial production declined in November

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Eurozone industrial output fell in November from a year earlier, according to the European Union’s statistical office, Eurostat.

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Estimates spoke of a small increase, mainly due to the sharp decline in the production of capital goods.

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Eurostat stressed that industrial production in the eurozone increased by 2.3% on a monthly basis but again fell by 1.5% on an annual basis.

Economists expected 0.5% monthly growth and 0.6% year-on-year.

The data for October were also revised downwards, showing a decrease of 1.3% on a monthly basis and an increase of 0.2% on an annual basis, compared to the previously announced increases of 1.1% and 3.3% respectively.

The unexpected year-on-year decline in November was mainly caused by a 9.8% drop in capital goods production, which contributed to the overall decline despite a 4.4% increase in durable consumer goods and a 6.1% increase in non-durable goods. durable consumer goods.

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Source From: Capital

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