Production at factories, mines and utilities in the 12 nations of the eurozone rose more than expected in November, according to figures published today Eurozone industrial output rose 1.0pc in November from October and was up 3.0pc on a year-on-year basis, EU statistics office Eurostat said. The figures were sharply higher than expected, as most economists had expected output to tick up by just 0.1pc on the month.
The better than expected figures were led by strong growth in the durable consumer goods sector - long lasting items such as washing machines and computers. Output of these goods surged 2.1pc in November, while capital goods were 1.6pc higher and intermediate goods, 1.3pc higher For the EU as a whole, Greece recorded the biggest month-on-month rise, climbing 4.6pc, followed by Germany and the Netherlands, both up 2.4pc. Ireland's industrial output is estimated to have risen by 0.9pc in November, after declining in the previous two months //www.fxcentre.com