Eurozone: Industrial output rebounds in October
December 12, 2018
Industrial output returned to growth in October, rising a seasonally-adjusted 0.2% over the previous month. The result contrasted September’s revised 0.6% decrease (previously reported: -0.3% month-on-month) and was in line with market expectations.
The improvement was broad-based, with production of intermediate goods, capital and consumer goods all gaining steam in October. In addition, energy output contracted at a more modest pace than in the previous month.
Looking at the individual economies for which data is available, 12 economies saw industrial production pick up in October, indicating a broad-based improvement. Among the region’s major-player, industrial production growth accelerated in France, Italy and Spain, but output plunged in Germany.
On an annual basis, industrial production growth rose from September’s 0.8% to 1.2% in October. However, annual average industrial production growth fell to 2.5% from 2.6% in September.