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Eurozone industrial output rises for 3rd straight month in Nov

by ChemOrbis Editorial Team -
  • 14/01/2015 (17:11)
According to data released on January 14 by Eurostat, industrial output in the eurozone increased for a third consecutive month in November. The region’s industrial output rose 0.2% month over month when compared to an upwardly revised growth of 0.3% in October.

Higher production of both durable and non-durable consumer goods was cited as the main reason behind the region’s stronger industrial output. Production of non durable goods and durable consumer goods rose 0.5% and 1.9%, respectively, while energy output was down 0.9% month over month following a 0.8% drop in October.

However, on a yearly basis, industrial output in the eurozone decreased 0.4% in November. Analysts stated that the region’s economic growth may find support from falling oil prices and stronger industrial production as well as higher retail sales in the fourth quarter of 2014.
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