According to the report from the Eurostat, in November, eurozone industrial production rose by 0.2% after a similar increase in October (revised from 0%). Economists had expected growth of 0.3%. In annual terms, industrial production decreased by 1.9%, accelerating compared to October (-1.1%, revised from -1.2%). Consensus estimates also suggested a drop by 1.9%. Meanwhile, among the countries of the European Union, industrial production increased by 0.1% on a monthly basis and fell by 1.7% per annum.
Eurostat reported that compared with October, industrial production in the eurozone increased for non-durable consumer goods (+0.1%), intermediate goods (+0.5%), capital goods (+0.5%), energy (+1.1%) and for durable consumer goods (+1.5%).
Meanwhile, the decline in industrial production in the eurozone compared to November 2023 was caused by a drop in production of durable consumer goods (-1.0%), energy (-1.3%), intermediate goods (-2.5%) and capital goods (-2.8%). Meanwhile, industrial production remained stable for non-durable consumer goods.
As for the EU countries, the largest annual decreases were recorded in Croatia (-6.6%), Ireland (-5.6%) and Austria (-5.0%). The highest increases were observed in Malta (+13.5%), Belgium (+8.7%) and Greece (+4.8%).