Eurozone: Industrial production growth falters in November
January 13, 2016
Industrial production in November 2015 contracted 0.7% over the previous month, in seasonally adjusted terms. The result contrasted the 0.8% expansion registered in October and exceeded the 0.3% drop the market had expected.
November’s faster-than-expected contraction stemmed from a decrease in energy production, as well as due to contraction in the output of capital goods and durable consumer goods. Compared to the same month a year ago, industrial output rose 1.1% in November, which came in below the 2.0% expansion tallied in October.
Among the Euro area economies, for which data are available, the contraction was driven by a notable decrease in Malta (-3.7% month-on-month) and contractions in the Netherlands (-3.1% mom) and Portugal (-4.9% mom). Conversely, industrial production increase in Greece and Slovakia.
Among the region’s major economies, industrial output contracted in France (-0.9% mom), Germany (-0.5% mom) and Italy (-0.5% mom), while Spain saw no growth in January.
Author: Ricardo Aceves, Senior Economist