Euro area industrial output rises further in October

By Mucahithan Avcioglu

ISTANBUL (AA) - Industrial production in the euro area rose 0.8% on a monthly basis in October, accelerating from the previous month, according to data released Monday by Eurostat.

The increase followed a 0.2% monthly rise in September, the data showed.

Among the euro area’s five industrial subcategories, production of durable consumer goods saw the largest rise in October, up 2%, followed by non-durable consumer goods, up 1.2%, and energy products, rising 1.1%.

The production of capital goods increased 0.5% in October, and intermediate goods rose 0.3% on a monthly basis.

Across the broader EU27, industrial output increased 0.3% from the previous month.

The largest monthly increases were seen in Ireland (+4%), Luxembourg (up 3.6%), and Croatia (+3.1%). The highest declines were in Sweden (-6.5%), Belgium (-3.4%), and Denmark (-3.2%).

On an annual basis, industrial production in the eurozone rose 2%, while increasing 1.9% in the EU.

In the eurozone, non-durable consumer goods showed the strongest annual growth at 4.9%, followed by energy products with 4.5%.

The highest annual increases were seen in Latvia and Ireland (up 8.7% each) and Greece (+6.9%). The largest decreases were in Bulgaria (-7.6%), Slovakia (-3.7%), and Hungary (-2.6%).

The eurozone, or EA20, represents member states that use the bloc’s single currency, the euro, while the EU27 includes all member countries.