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Financial News: Eurozone Industrial Output Falls For Third Month

Eurozone Industrial Output Falls For Third Month

01/15/2024 - 05:32:00 (RTTNews)

(RTTNews) - Eurozone industrial production declined for the third straight month in November, figures from Eurostat revealed on Monday.

As expected, industrial output posted a monthly fall of 0.3 percent in November. Nonetheless, the pace of decrease softened from 0.7 percent decrease in October and 0.8 percent fall in September.

The decline was driven by the 2.0 percent fall in durable consumer goods and 0.8 percent decrease in capital goods output. Production of intermediate goods was down 0.6 percent.

Offsetting these declines, energy and non-durable consumer goods output gained 0.9 percent and 1.2 percent, respectively.

On a yearly basis, the drop in industrial output deepened to 6.8 percent from 6.6 percent in October.

Industrial production in the EU27 slid 0.2 percent on month in November and declined 5.8 percent from the same period last year.

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