Eurozone industrial output falls for 3rd straight month in November 2023

By Tuba Ongun

Industrial production in the euro area decreased for the third consecutive month in November 2023, in line with market forecast, according to official data released on Monday.

The output dropped 0.3% from a month earlier in November, following a 0.7% decline in October, Eurostat data showed.

The production of durable consumer goods saw the largest fall among main industry groups, down 2% on a monthly basis.

The production of capital goods and intermediate goods ticked down 0.8% and 0.6%, respectively in the same period.

The production of energy, on the other hand, rose 0.9% from the prior month.

In the EU, industrial production edged down by 0.2% month-on-month in November 2023.

Among member states with available data, the largest monthly decreases were in Greece (4.1%), Slovakia (4.0%) and Belgium (3.8%).

The largest rises were seen in Denmark (9.1%), Slovenia (3.7%) and Portugal (3.4%).

On a yearly basis, industrial output dove 6.8% in the euro area and 5.8% in the EU in November 2023.

The eurozone/euro area, or EA19, represents member states that use the single currency – the euro – while the EU27 includes all member countries of the bloc.