Eurozone industrial production up in October

According to the data from Eurostat, industrial output in the eurozone increased by 0.2% on a monthly basis in October after a revised fall of 0.5% in September.

The monthly increase in output in October was mainly driven by an increase of 0.5% in production of non-durable consumer goods while capital goods fell by 0.3% and durable consumer goods by 1.9%.

The largest increases in industrial production in October came from Ireland by 10.6%, Denmark by 2.8% and Croatia by 2.7% while the output in Malta, Portugal and the Netherlands posted the largest decreases by 6.1%, 2.3% and 1.8% respectively.

Meanwhile, the industrial production in the Eurozone increased by 3.7% in October, compared with the same month of 2016. The increase was mostly driven by an increase of 5.3% in intermediate goods, of 4.7% in non-durable consumer goods, of 4.2% in capital goods and of 3.5% in durable consumer goods while while production of energy fell by 0.3%.