Euro zone industrial output up 0.7% in October

| December 14, 2010 | 0 Comments

The EU statistics office Eurostat has today revealed euro zone industrial output gained 0.7% in October, recovering from a 0.7% decline the previous month.

On an annual basis, meanwhile, industrial output grew by 6.9%.However, both figures were less than a monthly increase of 1.3% and an annual increase of 7.6% forecast by economists.

On an regional basis, the best performances were seen in Luxembourg and Greece where increases of 6.4% and 3.6% were recorded respectively.

Crisis-torn Ireland, which has recently been bailed out to the tune of €85 billion, saw a 4.8% fall in production, the biggest fall in the euro zone.

The euro zone’s largest economy, Germany, experienced a 3% gain in production - the country is currently driving the recovery of the euro zone.

In the meantime, industrial production in the 27-nation EU, rose 0.3% on the month.

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