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EZ Nov Industrial Production Beats Expectations

EUROZONE DATA
MNI (London)

EZ IP: +2.5% m/m, -0.6% y/y (vs. cons +0.2% m/m, -3.2% y/y); Prev (Oct): +2.3% m/m, -3.5% y/y

  • The EZ industrial sector recovered further in Nov, rising by 2.5% on a monthly basis and coming stronger than markets expected (BBG: 0.2%).
  • Oct's growth rate was revised up to 2.3% m/m from 2.1% reported previously, while the annual rate was revised to -3.5% from -3.8%.
  • Yearly production improved sharply to -0.6% in Nov, up from -3.5% seen in the previous month.
  • Nov's uptick was driven by a sharp increase in capital goods production, rising by 7.0%, while intermediate goods output was up 1.5%.
  • On the other hand, energy production fell by 3.9%, while non-durable and durable consumer goods eased by 1.7% and 1.2%, respectively.
  • Among the member states for which data is available, Ireland (+52.8%), Greece (6.3%) and Slovakia (+3.1%) recorded the largest gains, while Portugal (-5.1%), Belgium (-3.5%) and Malta (-2.1%) saw the biggest declines.
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com

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