Eurozone: Eurozone ekes out meager industrial output growth in November
January 12, 2015
In November, industrial production rose a seasonally-adjusted 0.1% over the previous month, according to data released by Eurostat on 14 January. The reading was down from the 0.4% increase recorded in October and slightly above the flat growth market analysts had expected.
At a country level, the region’s top performers were Ireland (+4.6% month-on-month) and Estonia (+1.5% mom). At the other end of the spectrum, Cyprus (-1.9% mom) and Malta (-1.4% mom) recorded the worst results. Regarding the four major regional economies, in Germany industrial production stalled over the previous month, while it contracted in (-0.3%) and Spain (-0.1%). Only Italy (+0.3%) recorded an expansion.
On an annual basis, industrial production dropped 0.4% in November, which contrasted the 0.8% expansion recorded in October. Meanwhile, annual average growth in industrial production declined from 1.1% in October to 0.8% in November.