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Financial News: Eurozone Industrial Output Growth Tops Expectations

Eurozone Industrial Output Growth Tops Expectations

01/12/2017 - 05:15:00 (RTTNews)

(RTTNews) - Eurozone industrial production grew much more than expected in November, figures from Eurostat revealed Thursday.

Industrial production grew 1.5 percent month-on-month in November, faster than October's revised 0.1 percent rise and the expected expansion of 0.5 percent. Earlier, Euorstat had estimated a 0.1 percent drop for October.

The monthly increase was driven by a 2.9 percent rise in production of non-durable consumer goods, 1.6 percent growth in intermediate goods and 1.2 percent increase in energy.

At the same time, capital goods grew only 0.1 percent, while production of durable consumer goods fell 0.1 percent.

On a yearly basis, growth in production accelerated to 3.2 percent from 0.8 percent in October. Production was forecast to grow 1.5 percent.

In the EU28, industrial output climbed 1.6 percent from October and 3.1 percent from November 2015.

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