Euro zone production rises in Oct thanks to capital goods

Shoaib Ur Rehman December 12, 2018

BRUSSELS: Euro zone industrial output rose in October thanks to a sharp increase in the production of capital goods and despite a decline in energy output, the European Union’s statistics office Eurostat said on Wednesday.

Eurostat said seasonally adjusted industrial production rose 0.2 percent month-on-month in October for a 1.2 percent year-on-year increase. Economists polled by Reuters had expected a 0.2 percent monthly gain and a 0.7 percent annual rise.

Eurostat revised downwards its figures for September to -0.6 percent month-on-month from -0.3 percent and to 0.8 percent year-on-year from the previously reported 0.9 percent.

The October increase in production was mainly thanks to a 3.7 percent annual rise in the output of capital goods, used for investment, which, together with a 1.2 percent gain in the production of non-durable consumer goods helped offset a 3.1 percent drop in energy and a 0.4 percent fall for intermediate goods.

Copyright Reuters, 2018
 

 

 

 

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