Eurozone industrial production grew at the fastest pace in three months in October, data from Eurostat revealed Monday.
Industrial output expanded 2.1 percent on a monthly basis, much faster than the 0.1 percent rise seen in September. This was the fastest growth in three months.
Production of capital goods gained 2.6 percent and that of intermediate goods climbed 2.1 percent. Energy output rose 1.8 percent. Economists had forecast a 2 percent rise for October.
Durable consumer goods climbed 1.5 percent, while non-durable consumer goods remained unchanged in October.
On a yearly basis, industrial production dropped 3.8 percent versus a 6.3 percent decrease in September. Output was expected to fall 4.4 percent.
The EU27 industrial production grew 1.9 percent on month in October but decreased 3.1 percent from the same period last year.
The material has been provided by InstaForex Company – www.instaforex.com