Euro Area: Industrial output stable in October
Latest reading: Industrial output was stable in month-on-month seasonally adjusted terms in October, following September’s 1.5% decrease. October’s figure was largely driven by an improvement in intermediate goods production. In addition, capital goods output rebounded. That said, both durable and non-durable consumer goods production swung into contraction.
On an annual basis, factory output fell at a softer rate of 1.2% in October (September: -2.2% yoy). Accordingly, the trend improved, with the annual average variation of industrial production coming in at minus 3.1%, up from September’s minus 3.5% reading.