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Eurozone Nov Industrial Output Drops Unexpectedly

Eurozone industrial production slipped unexpectedly by 0.3 percent in November from a month ago, when it was down 1 percent, Eurostat said Monday. Economists had forecast output to grow 0.2 percent.

On a yearly basis, industrial output decreased 3.7 percent, which was larger than the 3.3 percent decline logged in October.

Data showed that industrial production declined in sixteen member states and rose in five. Italy registered the biggest annual drop, down 7.6 percent. Meanwhile, Lithuania, Estonia and Malta registered strongest increases.

Intermediate goods production decreased 4.8 percent and output of capital goods fell 4.4 percent. Likewise, non-durable consumer goods declined by 3 percent, while production of energy increased 0.5 percent.

by RTTNews Staff Writer

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