Euro zone production rises in Oct on capital, consumer goods

/
1 min read
FILE PHOTO: A steel worker of Germany's industrial conglomerate ThyssenKrupp AG stands a mid of emitting sparks of raw iron from a blast furnace at Germany's largest steel factory in Duisburg

BRUSSELS – Euro zone industrial production rose as expected in October, data showed on Tuesday, with capital and durable consumer goods up the most on the month and non-durable goods output in the lead year-on-year, amid continued economic recovery.

The European Union’s statistics office Eurostat said industrial production in the 19 countries sharing the euro rose 1.1% month-on-month in October for a 3.3% year-on-year gain.

Economists polled by Reuters had expected a 1.2% monthly rise and a 3.2% annual increase.

Eurostat said that measured against September, industrial output of capital goods, used in investment, rebounded 3.0% after falls in August and September. Year-on-year capital goods production rose 5.2%.

Durable consumer goods were also sharply higher, rising 1.7% on the month and 2.3% on the year, while non-durable consumer goods output was 6.9% higher than a year earlier, continuing a trend of strong gains in previous months.

(Reporting by Jan Strupczewski; editing by Philip Blenkinsop)

tagreuters.com2021binary_LYNXMPEHBD0DX-BASEIMAGE


Breaking News
Australia central bank sees need to normalise policy in inflation fight