Eurozone industrial output above market forecast in November 2022

By Tuba Sahin

ANKARA (AA) - Industrial production in the euro area grew 1% compared to a month earlier in November 2022, better market forecast of a 0.5% increase.

November figure improved from a downwardly revised 1.9% decrease in October.

Capital goods led the increase in November, up 1% month-on-month. It was followed by intermediate goods by 0.8% and durable goods by 0.4%.

On the other hand, energy production and non-durables dropped 0.9% and 1.3%, respectively.

In the EU, industrial production climbed 0.9% in November, rebounding from a 1.9% drop in October.

The highest monthly rises were seen in Ireland (6.4%), Luxembourg (5%) and Malta (4.6%) while the largest decreases were in Estonia (3.7%), Sweden (3.3%) and Croatia (1.9%).

On annual basis, industrial output hiked by 2% in both the eurozone and the EU.